Required information [The following information applies to the questions displayed below.] During the year, TRC Corporation has the following inventory transactions. Unit Date Transaction Number of Units Cost Total Cost Jan. 1 Beginning inventory Apr. 7 Purchase 60 $ 52 $ 3,120 140 54 7,560 Jul.16 Purchase 210 57 11,970 Oct. 6 Purchase 120 58 6,960 530 $29,610 For the entire year, the company sells 450 units of inventory for $70 each. Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. Ending Inventory Ending Cost per unit Inventory FIFO Cost of Goods Available for Sale Cost of Goods Sold Cost of # of units Cost per unit Goods Available for Sale # of units Cost per unit Cost of Goods Sold # of units Beginning Inventory 60 $ 52 $ 3,120 60 $ 52 $ 3,120 Purchases: Apr. 7 140 $ 54 7,560 Jul. 16 210 EA 57 11,970 $ 54 0 $ 57 0 Oct.6 120 $ 58 6,960 $ 58 0 Total 530 $ 29,610 Sales revenue Gross profit