Required information [The following information applies to the questions displayed below.] During the year, a company has the following inventory transactions. Number of Unit Date Transaction Units Cost Total Cost Jan. 1 Beginning inventory 46 $ 38 $ 1,748 Apr. 7 Purchase 126 40 5,040 Jul.16 Purchase 196 43 8,428 Oct. 6 Purchase 106 44 4,664 474 $19,880 For the entire year, the company sells 425 units of inventory for $56 each. 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. Answer is not complete. LIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of Cost Cost # of units Goods # of per unit Available units per Cost of Goods Cost # of units unit Sold per unit Ending Inventory for Sale Beginning 46 $ 38 $ 1,748 46 $ 38 $ 1,748 Inventory Purchases: Apr 07 126 $ 40 5,040 126 $ 40 5,040 0 Jul 16 196 $ 43 8,428 196 $ 43 8,428 0 Oct 06 106 $ 44 4,664 57 $ 44 2,508 49 $ 44 2,156 Total 474 $ 19,880 425 $ 17,724 x 49 Sales revenue Gross profit