Required information [The following information applies to the questions displayed below. During the year, TRC Corporation has the following inventory transactions. Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase 48 Number of Units Unit Cost Total Cost 54 $ 46 $ 2,484 134 6,432 204 51 10,404 114 5,928 506 $25,248 For the entire year, the company sells 440 units of inventory for $64 each. Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Cost per unit Cost of Goods Availa for Sale $ 2,484 Cost per unit Cost of Goods Sold Cost Ending per unit Inventory 54 $ 46 54 $ 46 $ 2.484 0 Beginning Inventory Purchases: Apr. 7 Jul. 16 Oct.6 Total 0 134 $ 204 $ 114 $ 506 486 51 52. $ ,432 10,404 5,928 25,248 134 $ 486,432 204 $ 51 10,404 $ 5201 440 Sales revenue Gross profit