[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 Unit Number of Units Cost 60 $ 52 140 54 210 57 120 58 530 Total Cost $ 3, 120 7,560 11,970 6,960 $29,610 For the entire year, the company sells 450 units of inventory for $70 each Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit FIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Goods # of units unit Available for Sale 60 $ 52$ 3,120 Cost per Cost per # of units unit Cost of Goods Sold # of units Cost Ending per unit Inventory 60 S 52 5 3,120 Beginning Inventory Purchases Apr 7 140 54 140 EA 54 $ S Jul 16 210 57 210 EA 57 7,560 11.970 6,960 $ 29,610 7.560 11,970 0 Oct 6 120 5 58 $ 58 Total 530