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 60 $52 $ 3,120 Apr. 7 Purchase 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.