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 60 140 210 Unit Cost $ 52 Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase 54 Total Cost $ 3, 120 7,560 11,970 6,960 $ 29,610 58 For the entire year, the company sells 450 units of inventory for $70 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 of # of units Cost per unit # of units Cost per unit Cost of Goods Sold # of units Cost Ending per unit Inventory Available for Sale $ 3,120 60 $ 52 60 $ 52 $ 3,120 Beginning Inventory Purchases: Apr. 7 Jul. 16 Oct.6 Total 140 $ 2101S 54 571 7,560 11.970 140 $ 2101 $ $ 54 571 58 7,560 11,970 $ 58 120 530 6,960: 29,610 $