! Required information (The following information applies to the questions displayed below.) During the year, TRC Corporation has the following inventory transactions. Date Jan. 1 Apr. 7 Jul.16 Oct. 6 Transaction Beginning inventory Purchase Purchase Purchase Number of Units 49 129 199 109 Unit Cost $ 41 43 46 47 Total Cost $ 2,009 5,547 9,154 5,123 $21,833 486 For the entire year, the company sells 428 units of inventory for $59 each. 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 Cost per # of units unit Available for Sale Cost per # of units Cost of Goods Sold # of units Cost Ending per unit Inventory unit Beginning Inventory Purchases: Apr. 7 Jul. 16 Oct. 6 Total Sales revenue Gross profit 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. LIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Goods Cost per # of units unit Available for Sale Cost per # of units Cost of Goods Sold # of units Cost Ending per unit Inventory unit $ 0 Beginning Inventory Purchases: Apr 07 0 Jul 16 0 O Oct 06 O Total 0 $ Sales revenue Gross profit