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! Required information Exercise 6-4B Calculate inventory amounts when costs are rising (L06-3) [The following information applies to the questions displayed below.) During the year, a company has the following inventory transactions. Date Jan. 1 Apr. 7 Jul. 16 Oct. 6 Transaction Beginning inventory Purchase Purchase Purchase Number of Units Unit Cost 40 $ 32 120 34 190 37 100 38 450 Total Cost $ 1,280 4,080 7,030 3,800 $16,190 For the entire year, the company sells 400 units of inventory for $50 each. Exercise 6-4B Part 2 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. laint laulatandin ton. Rant mandan RAR IRRER DER ER Required information Answer is complete but not entrery correct. LIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Cost Goods units per Available unit for Sale #of # of units Cost per unit Cost of Goods Sold # of units Cost per unit Ending Inventory 40 $ 32$ 1,280 50 $ 32 $ 1,600 0 Beginning Inventory Purchases Apr 07 Jul 16 Oct 06 120 $ 4,080 0 X 34 37 $ 0 O 190 100 120 X $ 34 190$ 37 50 X $ 38 400 4,080 7,030 1.900 $ 14,610 7,030 3.800 $ 16.190 ols $ 38 > XIS 0 50 s 1,799 Total 450 Sales revenue BE Pro 5 of 6 Next >