Required information Exercise 6-4A Calculate inventory amounts when costs are rising (L06-3) (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 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. Exercise 6-4A Part 1 ces Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit FIFO Cost of Goods Sold Cost of Goods Available for Sale Cost of of units Goods unit Available for Sale Ending Inventory Cost per of units Cost per unit Cost of Goods Sold # of units Cost Ending per unit Inventory Beginning Inventory Purchases: Apr. 7 Jul. 16 Oct 6 Total Sales revenue Gross profit