[The following information applies to the questions displayed below.] During the year, TRC Corporation has the following inventory transactions. Unit Date Jan. 1 Apr. 7 Jul. 16 Oct. 6 Number of Units 58 138 208 118 Transaction Beginning inventory Purchase Purchase Purchase Cost 52 56 Total Cost $50 $ 2,900 7176 11,440 6,608 522 $ 28124 For the entire year, the company sells 444 units of inventory for $68 each. Required 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of Goods Available Average # of units Cost per Average Cost of Goods Average Ending # of units Cost per | # of units Cost per unit nventory unit unit Sold for Sale Beginning Inventory 58$ 50$ 2,900 58 $ 50 2,900 0 Purchases Apr. 7 Jul.16 Oct.6 138 52 208$55 118$ 56 522 7,176 11,440 6,608 $ 28,124 138 52 208$ 55 7,176 11,440 0 0 $56 404 78 $ 56 4,368 4,368 Total $ 21,516 78 27,472 $5,956 Sales revenue Gross profit 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of Goods Available Average AverageCost of Goods Sold Average Ending # of units Cost per | # of units Cost per | # of units cost per unit Inventory unit unit for Sale Beginning Inventony 58$ 50$ 2,900 Purchases Apr 07 Jul 16 Oct 06 138 52 208$ 55 118$ 56 522 7,176 11,440 6,608 $28,124 Total Sales revenue Gross profit 3. Using weighted-average cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. (Round "Weighted-Average Cost per unit" to 4 decimal places) Cost of Goods Sold- Weighted Ending Inventory -Weighted Average Cost of Goods Available for Sale Average Cost Cost Weighted Average Cost Average Cost # of units Cost per Available for ofGoods | # of units Average cost per # of units in Ending Inventory Average Cost per unit Ending Inventory Sold Goods Sold unit Sale Unit Beginning Inventory 58 2,900 Purchases Apr 07 Jul 16 Oct 06 138 208 118 522 7,176 11,440 6,608 28,124 Total Sales revenue Gross proft