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 48 $40 $1,920 Apr. 7 Purchase 128 42 5,376 Jul.16 Purchase 198 45 8,910 Oct. 6 Purchase 108 46 4,968 482 $21,174 For the entire year, the company sells 427 units of inventory for $58 each. Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. Answer is complete but not entirely correct. FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of Cost Cost #of Goods Cost of # of # of per units unit Available per Goods units units for Sale unit Sold Cost per unit Ending Inventory Beginning 48 $ 40 Inventory $ 1,920 58 $ 40 $ 2.320 Purchases: "