! Required information Exercise 6-4A Calculate inventory amounts when costs are rising (LO6-3) [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 56 136 206 116 Unit Cost $ 48 50 53 54 Total Cost $ 2,688 6,800 10,918 6,264 $26,670 514 For the entire year, the company sells 442 units of inventory for $66 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 Cost per # of units Cost of Goods Available for Sale # of units Cost of Goods Sold # of units Cost Ending per unit Inventory unit unit Beginning Inventory $ 0 $ 0 0 Purchases: Apr. 7 0 $ 0 0 Jul. 16 0 $ 0 O Oct. 6 0 $ O O Total 0 $ 0 Sales Gross profit 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. LIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Cost per unit Cost of Goods Available for Sale # of units Cost per unit Cost of Goods Sold # of units Cost Ending per unit Inventory $ 0 Beginning Inventory Purchases: Apr 07 0 Jul 16 0 Oct 06 0 Total 0 $ 0 Sales revenue Gross profit 3. Using weighted-average cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. (Round "Average Cost per unit" to 4 decimal places and all other answers to the nearest whole number.) Cost of Goods Available for Sale Cost of Goods Sold - Weighted Average Cost Ending Inventory - Weighted Average Cost Weighted Average Cost # of units Cost per unit Cost of Goods Available for Sale # of units Sold Cost per Unit Cost of Goods Sold # of units in Ending Inventory Cost per unit Ending Inventory 56 $ 2,688 Beginning Inventory Purchases: Apr 07 136 6,800 10,918 Jul 16 206 Oct 06 116 6,264 Total 514 $ 26,670 Sales revenue Gross profit