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 28 33 38 38 137 Unit Cost $ 30 29 28 26 Total Cost $ 840 957 1,064 988 $3,849 For the entire year, the company sells 101 units of inventory for $38 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 Inventory Cost of Goods Available for Sale Cost of # of units Goods unit Available for Sale Cost per # of units Cost per unit Cost of Goods Sold # of units Cost Ending per unit Inventory 0 $ 0 $ 0 Beginning Inventory Purchases: Mar 04 0 $ $ Jun 09 0 OOOO Ooo $ 0 Nov 11 Total 0 $ Sales revenue Gross profit