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 60 $ 52 140 54 210 57 120 58 530 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 Required: earch ORA 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 Sold Ending Inventory Cost of Goods Available for Sale Cost of # of units Goods unit Available for Sale $ 0 Cost per Cost per # of units unit Cost of Goods Sold # of units Cost Ending per unit Inventory $ 0 $ 0 Beginning Inventory Purchases Apr. 7 Jul 16 ces $ 0 0 CA 0 0 OOOO CA 0 0 Oct.6 Total 0 $ Oct 6 0 Total $ Sales revenue Gross profit For the entire year, the company sells 450 units of inventory for $70 each. Exercise 6-4A Part 2 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. o LIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost per Cost per # of units # of units Cost of Goods Sold # of units Cost of Goods Available for Sale $ 0 Cost Ending per unit Inventory unit unit Beginning Inventory Purchases Apr 07 Jul 16 Oct 06 Total OOOO $ Required information unit unit Sold per unit invento Avanapie for Sale $ 0 Beginning Inventory Purchases Apr 07 Jul 16 ololo Oct 06 Total 0 $ 0 Sales revenue Gross profit 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 2 decimal places and all other answers to the nearest whole number.) Ending Inventory - Weighted Average Cost of Goods Available for Sale Cost Weighted Average Cost Cost of Goods Sold - Weighted Average Cost of units Average Cost of Sold Cost per Unit Goods Sold # of units Average Cost per unit Cost of Goods Available for Sale # of units in Ending Inventory Average Ending Cost per unit Inventory 60 S 3,120 Beginning Inventory Purchases Apr 07 Jul 16 Oct 06 Total 140 210 120 530 7.560 11,970 6,960 29,610 S 60 GA 3,120 Beginning Inventory Purchases Apr 07 140 Jul 16 210 7,560 11,970 6,960 29,610 Oct 06 120 Total 530 $ Sales revenue Gross profit