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 40 120 190 100 450 Unit Cost $ 32 34 37 38 Total Cost $ 1,280 4,080 7,030 3,800 $16,190 For the entire year, the company sells 400 units of inventory for $50 each. 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 # of units Cost per unit Cost per unit Cost of Goods Available # of units for Sale $ or Cost of Goods Sold # of units Cost Ending per unit Inventory Beginning Inventory Saved Help Save & Exit Sub Check my world For the entire year, the company sells 400 units of inventory for $50 each 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. 3 LIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Goods Cost per # of units unit Available for Sale $ 0 # of units Cost per unit Cost of Goods Sold #of units Cost Ending per unit Inventory k 0 Beginning Inventory Purchases: Apr 07 Jul 16 Oct 06 Ooo $ 0 Total ces Sales revenue Gross profit 5 4 Next > of 5 !!!