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Required information Exercise 6-4A Calculate inventory amounts when costs are rising (L06-3) (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 60 140 210 120 Unit Cost $ 52 54 57 58 Total Cost $ 3,120 7,560 11,970 6,960 $29,610 530 For the entire year, the company sells 450 units of inventory for $70 each. Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. FIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Cost per Goods # of units unit Available for Sale $ # of units Cost per unit Cost of Goods Sold # of units Cost Ending per unit Inventory $ 0 $ 0 $ 0 0 0 $ 0 0 0 Beginning Inventory Purchases: Apr. 7 Jul. 16 Oct.6 Total O 0 0 0 $ $ 0 $ 0 O 0 $ O Sales revenue Gross profit 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. Cost of Goods Sold Ending Inventory # of units Cost per unit Cost of Goods Sold # of units LIFO Cost of Goods Available for Sale Cost of # of units Cost per Goods unit Available for Sale Beginning Inventory $ 0 Purchases: Apr 07 0 Cost Ending per unit Inventory Jul 16 0 0 0 Oct 06 Total 0 $ O Sales revenue Gross profit 3. Using weighted average cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. (Round "Average Cost per unit" to 2 decimal places and all other answers to the nearest whole number.) Cost of Goods Available for Sale Cost of Goods Sold - Weighted Average Cost Ending Inventory - Weighted Average Cost Weighted Average Cost # of units Average Cost per unit Cost of Goods # of units Available for Sold Sale Average Cost of Cost per Unit Goods Sold # of units in Ending Inventory Average Cost per unit Ending Inventory 60 $ 3,120 Beginning Inventory Purchases: Apr 07 Jul 16 140 7,560 11,970 6,960 29,610 210 120 530 Oct 06 Total $ Sales revenue Gross profit