Required information The following information applies to the questions displayed below) During the year. Trombley Incorporated has the following inventory transactions Number of units Unit Cost $ 31 Date Transaction Jan. 1 Beginning inventory Har 4 Purchase Jun. 9 Purchase Nov. 11 Purchase 30 Total cost $899 1,020 1.131 1,053 $4,103 For the entire year, the company sells 110 units of inventory for $39 each Required: 1. Using FIFO. calculate ending inventory, cost of goods sold, sales revenue, and gross profit Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Goods unit Available for Sale [ 295 31 899 of units Cost per # of units Cost Cost of Goods per un of units Cost Ending per unit Inventory Sold Beginning Inventory Purchases: $ 31 $ of Mar 04 30 . Jun 09 Nov 11 Total 34 39 39 141 $ $ $ 30 29 27 1,020 1131 1,053 4,103 OP of 01 27 $ Sales revenue Gross profit 2 Using LIFO. calculate ending inventory cost of goods sold, sales revenue and gross proft LIFO Cost of Goods Available for Sale Cost of Goods Sold cost per of units Goods Available for Sale of units Cost per unit Cost of Goods Sold of units Cost Eng per unit inventory unit 20 31 899 Beginning Inventory Purchases Mar 04 1.020 Jun 09 34 $ 30 $ 291 3927 1,131 1053 Nov 11 Total 141 $ 4,103 Sales revenue GROSS DOS Required information Cost of Goods Available for Sale Ending riventory - Weighted Average Weighted Average Cost Cost of Goods Sold - Weighted Average Cost of units Average Cost of Average cost of Goods Cost Available for per unit Sale # of units Sold Cost per Unit # of units in Ending Inwentory Goods Sold Average Cost per unit Encing Inventory Beginning Inventory Purchases 899 Mar 4 1,020 Jun 9 Nov 11 Total 4,103 Sales revenue Gross profit