Required information [The following information applies to the questions displayed below.] During the year, TRC Corporation has thee following inventory transactions. Number of Units Unit Cost Total Cost Date Transaction $ 37 $ 1,665 4,875 8,190 4,515 Beginning inventory Purchase Purchase Jan. 1 45 Apr. 7 Jul.16 125 39 195 42 Purchase 105 43 Oct. 6 $19,245 470 For the entire year, the company sells 414 units of inventory for $55 each goods sold, sales revenue, and gross profit 1. Using FIFO, calculate ending inventory, cost Answer is complete but not entirely correct. Cost of Goods Available for Sale FIFO Cost of Goods Sold Ending Inventory Cost of Goods Cost Cost Cost of Goods Cost # of #of of Ending Inventory per per per units Available for Sale units units unit unit Sold unit Beginning Inventory Purchases 45 37 S $1,665 45 1,665 37 39 125 $ 125 $39 4,875 Apr. 7 4,875 195 $ 42 195 $ 42 Jul.16 8,190 8,190 105 $ 43 55 50x 43 Oct.6 4,515 43 2,365 2,150 420 x $17,095 x 50 x 470 $ 19,245 2,150 Total 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 Cost of Goods Sold Ending Inventory Cost of Cost of # of units Cost per unit #of unitsCost per unit Goods Cost # of unitsper unit Inventory Ending Goods Sold Available for Sale Beginning Inventory Purchases 0 Apr 07 0 Jul 16 Oct 06 Total 0 0 Sales revenue Gross profit 3. Using weighted-average cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. (Round "Average Cost per unit" to 4 decimal places and all other answers to the nearest whole number.) Cost of Goods Sold - Weighted Average Cost Cost of Goods Available for Sale Ending Inventory -Weighted Average Cost Weighted Average Cost Cost of Goods Available for Sale #of units in Ending Inventory Cost per unit # of units Cost of Ending Inventory #of units Cost per Unit Cost per unit Sold Goods Sold Beginning Inventory 45 1.665 Purchases: Apr 07 125 4,875 Jul 16 195 8.190 Oct 06 105 4,515 470 19,245 Total Sales revenue Gross profit