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 # of units Goods unit Available for Sale 44 $ 36 $ 1,584 Cost per Cost per # of units Cost of Goods Sold #of units unit Cost Ending per unit Inventory $ Beginning Inventory Purchases 36 $ 0 Apr. 7 38 $ 0 Jul 16 38 41 41 $ 124 $ 194 $ 104 s 466 0 4,712 7,954 4,368 18,618 Oct 6 Total 42 S 42 0 $ 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 Purchase Jul.16 Purchase Oct. 6 Purchase Number of Units 44 124 194 104 466 Unit Cost $36 38 41 42 Apr. 7 Total Cost $ 1,584 4,712 7,954 4,368 $18, 618 For the entire year, the company sells 413 units of inventory for $54 each