Problem 2 (E6-4) During the year, TRC Corporation has the following inventory transactions: Date Transaction Number of Units Unit Cost Jan. 1 Beg, Inventory 60 $ 52 April 7 Purchase 140 54 July 16 Purchase 210 57 Oct. 6 Purchase 120 58 Total Cost $ 3,120 7,560 11,970 6,960 530 $ 29,610 During the year, the company sold the following units (all sold for $70 cach): Date Units Feb 50 May 100 June 150 Aug 90 Nov 60 450 Required: Calculate the values of: (A) Ending Inventory. (B) Cost of Goods Sold, (C) Sales Revenue and (D) Gross Profit under the periodic system using the following methods: 1. FIFO 2. LIFO 3. Weighted Average Problem 3 (using E6-4) Using the information in the problem above, answer the same questions using the perpetual system