Required information Exercise 6-4B Calculate inventory amounts when costs are rising (L06-3) The following information applies to the questions displayed below.) During the year, a company has the following inventory transactions. Number of Units Unit Cost $ 37 Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase 39 Total Cost 5 1,665 4.875 8. 190 4.515 $19,245 For the entire year, the company sells 414 units of inventory for $55 each. Exercise 6-4B 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 Goods unit Available for Sale # of units Cost per # of units op 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