mework A Saved Required information [The following information applies to the questions displayed below.) During the year, TRC Corporation has the following inventory transactions. Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase Number of Units 60 140 210 120 530 Unit Cost $ 52 54 57 58 Total Cost $ 3, 120 7,560 11,970 6,960 $29,610 For the entire year, the company sells 450 units of inventory for $70 each. Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue and gross profit. FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost per # of units of units Cost per unit Cost of Goods Available for Sale s 31201 Cost of Goods Sold # of units Cost Ending per unit Inventory unit Roinninn Inventory 52 ! $ 52 $ 31201 Required: 1. Using FIFO, calculate ending Inventory.cost of goods sold, sales revenue, and gross profit. FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory of units Cost per #of units Cost per Cost of Goods unit Available for Sale 50 $ 52 $ 3,120 # of units Cost of Goods Sold unit Cost Ending per unit Inventory 60 $ 52 $ 3,120 Beginning Inventory Purchases: Apr. 7 Jul. 16 Oct. Total 140 s 210 s 120 $ 54 57 58 1401 $ 2100 $ 54 57 7,560 11,970 7.500 11.970 6,960 29,6101 $ sa 0 ces 530 $ Sales revenue Gross profit LIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of # of units Goods unit Available for Sale 0 Cost per # of units Cost per unit Cost of Goods Sold # of units Cost Ending per unit Inventory Beginning Inventory Purchases: Apr 07 Jul 16 0 Oct 06 Total olo o $ Sales revenue Gross profit Required information Cost of Goods Available for Sale Cost of Goods Sold - Weighted Average Cost Ending Inventory Weighted Average Cost Weighted Average Cost # of units Average Cost per unit Cost of Goods Available for Sale # of units Sold Average Cost of Cost per Unit Goods Sold #of units in Ending Inventory Average Ending Cost per unit Inventory 60 $ 3,120 Beginning inventory Purchases Apr 07 Jul 16 140 210 120 530 7,560 11,970 6,960 29,610 Oct 06 Total $ Sales revenue Gross profit