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 Unit Cost Total Cost 48 $ 40 $ 1,920 128 42 5,376 198 45 8,910 108 46 4,968 482 $21, 174 For the entire year, the company sells 427 units of inventory for $58 each. Exercise 6-4A Part 1 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 # of units Cost per # of units unit Cost of Goods unit Available for Sale $ 40 $ 1,920 Cost of Goods Sold # of units Cost Ending per unit Inventory 48 48 $ 40 $ 1,920 Beginning Inventory Purchases 5,376 128 $ 42 5.376 Apr. 7 Jul. 16 42 45 46 8,910 198 $ 45 128 $ 198$ 108$ 482 8,910 Oct.6 4.968 $ 46 0 Total $ 21.174 427 Sales revenue Gross profit