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. Wamber of Date Transaction Units Cost Total Cost Jan. 1 Deginning inventory $35 $1,665 Apr. 7 Purchase 125 39 4,975 01.16 Purchase 195 42 8,190 Oct. 6 Purchase 4.515 $19,245 Wait 45 105 470 For the entire year, the company sells 414 units of inventory for $55 each Exercise 6-4A Part 1 74 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 # of units Cost per unit Cost per Cost of Goods Avallable for Sale # of units unit Cost of Goods Sold # of units Cost Ending per unit Inventory Beginning Inventory Purchases: Apr. 7 Jul. 16 Oct 6 ces Total Sales revenue Gross profit 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 units Cost per unit Cost per Cost of Goods Available for Sale # of units unit Cost of Goods Sold # of units Cost Ending per unit Inventory Beginning Inventory Purchases: Apr 07 Jul 16 Oct 06 Total Sales revenue Gross profit S HE Exercise 6-4A Part 3 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.) TA Ending inventory. Welghted Average Cost Weighted Average Cost of Goods Available for Sale Cost of Goods Sold-Wolghted Average Cost Cost of Goods of units #of units Cost of Available for unit Cost per Unit Sold Sale Goods Sold Cont Cost per N of units In Ending Inventory Cost per unit Ending Inventory 45 $ 1.665 Beginning Inventory Purchases Apr 07 Jul 16 Oct 06 Total 125 195 105 470 4,875 8,190 4,515 19.245 S Sales revenue Gross profit Exercise 6-4A Part 4 4. Determine which method will result in higher profitability when inventory costs are rising Multiple Choice UFO Weighted average FIFO