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Answer is not complete. LIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost #of Cost of Goods units unit Available for Sale per # of units Cost per unit Cost of Goods Sold # of Cost per unit units Ending Inventory 60$ 52$ 3,120 120 $ 52 $ 6,240 60 $ 52 $ 3,120 Beginning Inventory Purchases: Apr 07 Jul 16 140 GA 54 7,560 120 $ 54 6,480 210 $ 57 > $ 58 Oct 06 Total 120 530 11,970 6,960 $ 29,610 450 $ 25,410 80 S 4,200 Answer is complete and correct. Sales revenue Gross profit $ 31,500 $ 6,090 Required information [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 Purchase Jul.16 Purchase Oct. 6 Purchase Apr. 7 Number of Units 60 140 210 120 530 Unit Cost $ 52 54 57 58 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. 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit