Required information [The following information applies to the questions displayed below) During the year, TRC Corporation has the following inventory transactions. Date Transaction Beginning Number of Units 56 Unit Cost $48 Jan. 1 inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase 136 206 116 514 Total Cost $ 2,688 6,800 10,918 6,264 $26,670 For the entire year, the company sells 442 units of inventory for $66 each. Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. For the entire year, the company sells 442 units of inventory for $66 each. Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. HO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of #of units Cost per Goods unit Available for Sale Cost of # of units Cost per unit Goods Cost Ending of units per unit Inventory Sold 0 $ Beginning Inventory Purchases Apr. 7 Jul 16 Oct 6 Total Required information $ of i s 0 s ol of $ 0 0 Beginning Inventory Purchases: Apr. 7 Jul. 16 Oct. Total $ 6 0 $ 0 0 SI 0 $ 0 Sales revenue Gross profit