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 Unit Cost Total Cost 56 $ 48 $ 2,688 136 50 6,800 206 53 10,918 116 54 6,264 514 $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 aross profit 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 Cost per unit Cost of Goods # of units Available for Sale $ 01 Cost of Goods Sold unit Cost Ending # of units per unit Inventory 56 $ 0 $ ol Beginning Inventory Purchases Apr. 7 Jul 16 Oct 6 136 ol $ 0 ol 206 or $ 0 $ 0 01 0 ol Total 398 $ 01 Sales revenue Gross profit