! Required information Exercise 6-5A Calculate inventory amounts when costs are declining (L06-3) [The following information applies to the questions displayed below.) During the year, Trombley Incorporated has the following inventory transactions. Date Transaction Jan. 1 Beginning inventory Mar. 4 Purchase Jun. 9 Purchase Nov. 11 Purchase Number of Units 22 27 32 32 113 Unit Cost $ 24 23 22 20 Total Cost $ 528 621 784 640 $2,493 For the entire year, the company sells 88 units of inventory for $32 each. Exercise 6-5A Part 1 Required: 1. Using FIFO, calculate ending Inventory, cost of goods sold, sales revenue and gross profit. FIFO Cost of Goods Sold Ending Invantory Cost of Goods Available for Sale Cost of Cost per Goods # of units unit Ausilahla Cost per Cost of Goods # of units # of units Cost Ending RARE Invent Required: 1. Using FIFO, calculate ending Inventory, cost of goods sold, sales revenue and gross profit FIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Cost per Goods # of units unit Available for Sale 22 $ 24 S 528 of units Cost per unis Cost of Goods Sold # of units Cost Ending per unit Inventory 5 24 $ Beginning inventory Purchases Mar 04 621 $ 28 0 Jun 09 23 22 20 S 22 27 $ 32 s 7 $ 88 0 704 140 Nov 11 5 20 0 Total $ 1.993 Sales revenue Gross profil $ $ 2,816 823