Required information [The following information applies to the questions displayed below.] During the year, TRC Corporation has the following inventory transactions. Number Unit Date Transaction of Units Cost Total Cost Jan. 1 Beginning inventory $ 42 $ 2100 Apr. 7 Purchase 130 44 5,720 Jul. 16 Purchase 200 47 9,400 Oct. 6 Purchase 110 48 5,280 50 490 $ 22,500 For the entire year, the company sells 440 units of inventory for $60 each. Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. FIFO Cost of Goods Sold Ending Inventory Average Ending Cost of Goods Available for Sale Average Cost of Goods # of units Cost per Available unit for Sale $ 0 Average Cost of # of units Cost per Goods unit Sold # of units Cost Inventory per unit 0 $ 0 Beginning Inventory Purchases: Apr. 7 0 0 0 0 0 0 Jul. 16 Oct.6 Total 0 | V $ 0 0 0 $ 0 Sales revenue Gross profit 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. Cost of Goods Sold Ending Inventory Average Ending Average Cost of # of units Cost per Goods unit Sold # of units Cost Inventory per unit 0 LIFO Cost of Goods Available for Sale Cost of Average # of units Cost per Available Goods unit for Sale Beginning Inventory $ Purchases: Apr 07 0 Jul 16 Oct 06 0 Total 0 $ 0 0 Sales revenue Gross profit 3. Using weighted-average cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. (Round "Weighted- Average Cost per unit" to 2 decimal places) Cost of Goods Available for Sale Cost of Goods Sold - Weighted Average Cost Weighted Average Cost Average Cost of Goods # of units Cost per Available for unit Sale Ending Inventory - Weighted Average Cost # units Average in Ending Cost per Ending Inventory unit Inventory # of units Average Cost of Goods Sold Cost per Unit Sold 50 $ 2,100 Beginning Inventory Purchases: Apr 07 Jul 16 Oct 06 Total 130 200 110 5,720 9,400 5,280 22,500 490 $ Sales revenue Gross profit