Required information [The following information applies to the questions displayed below.) During the year, TRC Corporation has the following inventory transactions. Date Jan. 1 Apr. 7 Jul. 16 Oct. 6 Transaction Beginning inventory Purchase Purchase Purchase Number of Units 60 140 210 120 Unit Cost $ 52 54 57 58 Total Cost $ 3,120 7,560 11,970 6,960 530 $ 29,610 For the entire year, the company sells 450 units of inventory for $70 each. 4. Determine which method will result in higher profitability when inventory costs are rising. Multiple Choice LIFO O Weighted average O FIFO