Required information [The following information applies to the questions displayed below.] During the year, TRC Corporation has the following inventory transactions. Number of Unit Date Transaction Units Cost Total Cost Jan. 1 Beginning inventory 53 $ 45 $ 2,385 Apr. 7 Purchase. 133 47 6,251 Jul.16 Purchase 203 50 10,150 Oct. 6 Purchase 113 51 5,763 502 $24,549 For the entire year, the company sells 433 units of inventory for $63 each. 4 Required information Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. FIFO Ending Inventory Beginning Inventory Cost of Goods Available for Sale Cost of Goods Sold # of units Cost per unit Cost of Goods Available: Cost of # of units Cost per unit Cost Ending Goods Sold # of units per unit Inventory for Sale 53 $ 45 $ 2,385 53 $ 45 $ 2,385 Purchases: Apr. 7 133 $ Jul. 16 203 $ SS 47 6,251 113 $ 50 10,150 203 $ Oct.6 113 $ 51 5,763 113 $ 51 785 47 5,311 50 10,150 5,763 Total 502 $ 24,549