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. Number of Units 54 Date Transaction Beginning Jan. 1 inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase Unit Cost $ 46 48 51 52 134 204 114 506 Total Cost $ 2,484 6,432 10,404 5,928 $25,248 For the entire year, the company sells 440 units of inventory for $64 each. Exercise 6-4A Part 2 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. LIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Cost # of Goods per Available unit for Sale # of # of units Cost per unit Cost of Goods Sold Cost per unit Ending Inventory units units Beginning Inventory 54 $ 48 $ 2,592 54 $ 48 $ 2,592 Exercise 6-4A Part 2 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 # of units Cost per unit Cost of Goods Available for Sale Cost per unit Cost of Goods Sold # of units Cost per unit Ending Inventory units 54 $ 48 $ 2,592 54 $ 48 $ 2,592 08 Beginning Inventory Purchases: Apr 07 Jul 16 Oct 06 134 204 114 506 $ 48 $ 51 $ 525 $ 6,432 10,404 ,928 25,356 134 * $ 486 ,432 204 $ 51 10,404 114 $ 525,928 506 X $ 25,356 X 0 % 0 51 $ 52 2,652 2,652 X Total 52 X $ *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted. Sales revenue Gross profit