Required information Exercise 6-4A Calculate inventory amounts when costs are rising (LO6-3) [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 45 $ 37 $ 1,665 Apr. 7 Purchase 125 39 4,875 Jul.16 Purchase 195 42 8,190 Oct. 6 Purchase 105 43 4,515 470 $19, 245 For the entire year, the company sells 414 units of inventory for $55 each. 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 Cost # of units per Goods unit Available for Sale $ 0 Cost per # of units unit Cost of Goods Sold # of units Cost Ending per unit Inventory Beginning Inventory Purchases: 0 Apr 07 Jul 16 0 Oct 06 Total OOO 0 Sales revenue Gross profit