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[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 Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase Number of Units 43 123 193 103 Unit Cost $ 35 37 40 41 Total Cost $ 1,505 4,551 7,720 4,223 $17,999 462 For the entire year, the company sells 412 units of inventory for $53 each. Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. FIFO Cost of Goods Sold Ending Inventory # of units Cost per Cost of Goods Available for Sale Cost of Goods unit Available for Sale 43 350 $ 1,505 # of units Cost per unit Cost of Goods Sold # of units Cost Ending per unit Inventory $ 43 $ 35 $ 1,505 0 Beginning Inventory Purchases: Apr. 7 Jul. 16 37 123 $ 37 0 123 $ 193 $ 4,551 7,720 4,551 7,720 40 193 40 0 $ $ Oct.6 103 $ 41 41 0 4,223 17,999 Total 462 $ Sales revenue Gross profit