k ces During the year, TRC Corporation has the following inventory transactions. Number of Unit Cost Date January 1 April 7 July 16 October 6 Transaction Beginning inventory Purchase Purchase Purchase Units 59 139 209 119 526 $51 53 56 57 Total Cost $3,009 7,367 11,704 6,783 $28,863 For the entire year, the company sells 445 units of inventory for $69 each. Required: 1-a & b. Using FIFO, calculate ending inventory and cost of goods sold. 1-c & d. Using FIFO, calculate sales revenue and gross profit. 2-a & b. Using LIFO, calculate ending inventory and cost of goods sold. 2-c & d. Using LIFO, calculate sales revenue and gross profit. 3-a & b. Using weighted-average cost, calculate ending inventory and cost of goods sold. 3-c & d. Using weighted-average cost, calculate sales revenue and gross profit. 4. Determine which method will result in higher profitability when inventory costs are rising.