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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 53 133 203 113 Unit Cost $45 47 se 51 Total Cost $ 2,385 6,251 10,150 5,763 $24,549 502 For the entire year, the company sells 433 units of Inventory for $63 each. Required: 1. Using FIFO, calculate ending Inventory, cost of goods sold, sales revenue and gross profit. FIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Cost per Goods # of units unit Available for Sale 53 $ 45 S 2,385 Cost per # of units Cost of Goods Sold Cost Ending per unit Inventory unit # of units 53 S 45 S 2.385 53 S 45 $ 2,385 Beginning Inventory Purchases: Apr. 7 133 47 133 S 47 8.251 7 $ 47 329 Jul. 16 203 $ $ $ 50 203 S 50 0 6,251 10.150 5,763 24,549 10,150 5.763 Oct. 6 113 51 113 S 51 Total 502 $ 80 Sales revenue $ 14.289 Gross profit