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 Number of Units 60 140 210 120 530 Unit Cost $ 52 54 57 58 Total Cost $ 3, 120 7,560 11,970 6,960 $29,610 For the entire year, the company sells 450 units of inventory for $70 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 unit Cost of Goods Sold # of units Cost Ending per unit Inventory LIFO Cost of Goods Available for Sale Cost of # of units Cost per Goods unit Available for Sale Beginning Inventory 0 Purchases Apr 07 Jul 16 OOOO Oct 06 Total 0 $