Required information (The following information applies to the questions displayed below.) During the year, TRC Corporation has the following inventory transactions. Unit Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase Number of Units 40 120 190 $ 32 34 37 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. Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. FIFO Cost of Goods Available for Sale Cost of Goods Sold | Ending Inventory # of units Cost per unit Cost of Goods Available for Sale # of units Cost per # of units Cost of Goods Sold unit Cost Ending # of units Its per unit Inventory Beginning Inventory Purchases: Apr. 7 Jul. 16 Oct.6 Total Sales revenue Gross profit