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 16 21 26 Unit Cost $ 18 17 16 14 Total Cost $ 288 357 416 364 $1,425 26 89 For the entire year, the company sells 69 units of inventory for $26 each. Exercise 6-5A 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 Cost per Goods # of units unit Available Cost per # of units Cost of Goods unit # of units Cost Ending per unit Inventory 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 Cost per Goods # of units unit Available for Sale $ 0 Cost per # of units unit Cost of Goods Sold # of units Cost Ending per unit Inventory Beginning Inventory Purchases: $ 0 $ 0 Mar 04 0 $ 0 0 Jun 09 Nov 11 0 $ $ $ 0 Ooo OOO 0 0 Total $ 0 Sales revenue Gross profit