Required intormation Exercise 6-4A Calculate inventory amounts when costs are rising (L06-3) [The following information applies to the questions displayed below.) During the year, TRC Corporation has the following inventory transactions. Number of Units Unit Cost $ 46 Total Cost 54 Date Transaction Beginning Jan. 1 inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase 48 134 204 114 $ 2,484 6,432 10,404 5,928 $25,248 506 For the entire year, the company sells 440 units of inventory for $64 each. Exercise 6-4A Part 1 Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. Exercise 6-4A Part 1 Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. Answer is complete but not entirely correct. FIEC Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost # of units Cost per unit # of units Cost of Goods Available for Sale 2,484 Cost per unit Cost of Goods Sold # of units per Ending Inventory unit 54 $ 46 54 $ 46 $ 2,484 0 0 Beginning Inventory Purchases: Apr. 7 Jul. 16 Oct.6 Total 134 204 114 506 $ $ $ 48 51 52 6,432 10,404 5,928 25,248 134 $ 486,432 204 $ 51 10,404 114X $ 525,928 498 X $ 25,248 X 51 * $ 51 52 X $ 52 103 X 2,601 2,704 5,305 X $ $