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 Units Unit Cost $43 Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase 131 201 111 Total Cost 2,193 5.995 9,648 5,439 $23,175 For the entire year, the company sells 431 units of inventory for $61 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 of Cost of Cost # of units cost per unit of units per unit Goods Available for Sale Goods # of units Cost Ending per unit Inventory Sold Beginning Inventory Purchases: Apr. 7 Jul. 16 Oct.6 Total Sales revenue Gross profit