The tollowing intormation appiwes to the questions aispiayed below.j During the year, TRC Corporation has the following Inventory transactions Date an. 1 Beginning Inventory Apr. 7 Purchase Jul. 16 Oct. 6 or Units Cos Total Cost $33 S 1353 4,235 7,250 3,939 41 121 101 39 S 16,705 For the entire year, the company sells 410 units of Inventory for $51 each 10.00 points Required: 1. Using FIFO, 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 Average Goods # of units cost per | Available for Sale Average Cost of Goods Sold # of units Cost per | # of units Cost per unit unit unit Beginning Inventory Apr. 7 Jul.16 Oct 8 Sales revenue Gross profi 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 Average Goods # of units cost per | Available for Sale Average Cost of Goods unit Sold # of units | Cost per | # of units Cost per unit Inventory unit Beginning Inventory Apr 07 Jul 16 Oct 03 Total Sales revenue Gross profit 4. Determine which method will result In higher profitabillity when Inventory costs are rising. O welgnted-average O FIFO 110