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. Beginning inventory Purchase Jul.16 Purchase Oct. 6 Purchase Apr. 7 Number of Units 60 140 210 120 530 Unit Cont $ 52 54 57 58 Total Cost $ 3,120 7,560 11,970 6,960 $29,610 For the entire year, the company sells 450 units of inventory for $70 each. Exercise 6-4A Part 2 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. LIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of of units Cost per Goods unit Available for Sale 60 $ 52 $ 3,120 # of units Cost per Cost of Goods Sold unit of units Cost Ending per unit Inventory 0 Beginning Inventory Purchases: Apr 07 Jul 16 140 $ 54 7,560 210 $ 57 11,970 120 586,960 $ 29,610 2100 $ 57 Oct 06 11,970 Total 530 450 80 Sales revenue Gross profit