Required information [The following information applies to the questions displayed below. During the year, a company has the following inventory transactions. Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase Number of Units 40 120 190 100 450 Unit Cost $ 32 34 37 38 Total Cost $ 1,280 4,080 7,030 3,800 $16,190 For the entire year, the company sells 400 units of inventory for $50 each. 2. Using LIFO. calculate ending inventory, cost of goods sold, sales revenue, and gross profit. Cost of Goods Sold Ending Inventory Cost per # of units Cost per unit Cost of Goods Sold # of units Cost Ending per unit Inventory 0 LIFO Cost of Goods Available for Sale Cost of # of units Goods unit Available for Sale Beginning Inventory $ Purchases: Apr 07 Jul 16 Oct 06 Total 0 $ 0 + 0 0 0 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 # of units Goods unit Available for Sale $ 0 Cost per # of units Cost per unit Cost of Goods Sold # of units Cost Ending per unit Inventory 0 Beginning Inventory Purchases: Apr 07 Jul 16 Oct 06 Total 0 0 0 $ 0 Sales revenue Gross profit