The following information applies to the questions displayed below.] During the year, TRC Corporation has the following inventory transactions. Number of Units 60 140 210 120 Unit Cost $52 54 57 58 Date Jan. 1 Apr. 7 Jul. 16 Oct. 6 Transaction Total Cost 3,120 7,560 11,970 6,960 Beginning inventory Purchase Purchase Purchase $ 29,610 530 For the entire year, the company sells 450 units of inventory for $70 each 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. LIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of cost per Available for Sale Average Goods # of units Cost per Average Ending Average Cost of Goods Sold # of units | # of units cost per unitnventory unit unit Beginning Inventory 60$52$ 3,120 60 $ 52 $ 3,120 Purchases Apr 07 Jul 16 Oct 06 120 $ 54 210$ 57 120 58 450 14054 210 $57 120$58 530 20 $ 54 1,0 6,480 11,970 6,960 $ 25,410 7,560 11,970 6,960 $ 29,610 Total 80 $ 31,500 Sales revenue 6,090 Gross profit Answer is complete but not entirely correct. Cost of Goods Sold-Weighted Average Cost Ending Inventory - Weighted Average Cost Average Cost of Goods Available for Sale # of units in Ending Inventory Weighted Average Cost Cost of Goods Available for Sale $ 3,120 Average Cost per unit #of units Sold Average Cost per Unit Cost of Goods Sold #of units Ending Cost per Inventory unit Beginning Inventory 60 Purchases Apr 07 Jul 16 Oct 06 140 210 120 530 $55.8700$ 29,610 450$55.8700 7,560 11,970 6,960 25,141 60 x $55.8700 x $ 3,352 Total Answer is complete and correct. Sales revenue Gross profit $ 31,500 6,359