Required information Exercise 6-5A Calculate inventory amounts when costs are declining (L06-3) [The following information applies to the questions displayed below) During the year, Trombley Incorporated has the following inventory transactions. Date Transaction Jan. 1 beginning inventory Mar. 4 Purchase Jun. 9 Purchase Nov.11 Purchase Number of Units 13 18 23 23 77 Unit Cost $ 15 14 13 11 Total Cost 5195 252 299 253 5999 For the entire year, the company sells 61 units of inventory for $23 each Exercise 6-5A Part 1 Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit Ending Inventory Cost of Goods Sold Cost per Cost of # of units unit Goods Sold unit # of units Cost Ending per unit Inventory FIFO Cost of Goods Available for Sale Cost of # of units Cost per Goods Available for Sale Beginning Inventory Purchases Mar 04 Jun 09 Nov 13 Total Sales revenue Gross profit