Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit.

Exercise 6-5 Calculate inventory amounts when costs are declining [The foiio Wing information appiies to the questions dispiayed beio wj During 2015, Tromloleylr Incorporated has the following inventory transactions. Number Unit Date Transaction of Units Cost Total Cost Jan. 1 Beginning inventory 16 $18 $ 288 Mar. 4 Purchase 21 17 357 Jun- 9 Purchase 26 16 416 Nov. 11 Purchase 26 14 354 89 $ 1,425 ' For the entire year, the company sells 69 units of inventory for $26 each. Required: 1 . Using FIFO. calculate ending inventory, cost of goods sold, sales revenue, and gross prot. Beginning Inventory Total Gross prot