Required information [The following information applies to the questions displayed below.) During the year, TRC Corporation has the following inventory transactions. Number of Units 58 138 208 Unit Cost $ 50 Date Transaction Jan. i Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase 55 Total Cost $ 2,900 7,176 11,440 6,608 $28,124 116 522 For the entire year, the company sells 444 units of inventory for $68 each. Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. FIFO Cost of Goods Sold L Ending Inventory Go Cost of Goods Available for Sale Cost of Goods unit Available for Sale 58 $ 50 $ 2,900 # of units Cost per Ending # of units Cost per # of units Cost " Costner Cost of Goods unit Sold $ 50 $ 2,900 per unit Inventory 58 Beginning Inventory Purchases: Apr. 7 Jul. 16 Oct.6 Total L 138 $ 208 $ 1187 $ 522 52 55 56 7,176 11,440 6,608 28,124 138 $ 208 $ $ 527,176 55 11,440 56 of [ $ 1 Sales revenue Gross profit 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. LIFO Cost of Goods Available for Sale Ending Inventory # of units Cost per unit # of units Cost of Goods Available for Sale $ 0 Cost per unit Cost of Goods Sold Cost Ending # of units S per unit Inventory Beginning Inventory Purchases: Apr 07 Jul 16 Oct 06 Total |_ o $ 0 Sales revenue Gross profit