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. Number of Unit Date Transaction Units Cost Total Cost Jan. 1 Beginning inventory 60 $52 Apr. 7 Purchase $ 3,120 140 54 7,560 Jul.16 Purchase 210 57 11,970 Oct. 6 Purchase 120 58 6,960 530 $29,610 For the entire year, the company sells 450 units of inventory for $70 each. Exercise 6-4A Part 1 Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost per # of units unit Cost of Goods Available for Sale #of units Cost per unit Cost of Goods Sold #of units Cost Ending per unit Inventory Beginning Inventory Purchases: Apr. 7 Jul 16 Oct 6 Total Sales revenue Gross profit