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 25 30 35 35 125 Unit Cost $ 27 26 25 23 Total Cost $ 675 780 875 805 $3,135 For the entire year, the company sells 98 units of inventory for $35 each. Exercise 6-5A Part 2 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. LIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Cost per unit Cost of Goods Available for Sale # of units Cost per unit Cost of Goods Sold # of units Cost Ending per unit Inventory Beginning Inventory Purchases Mar 04 Jun 09 Nov 11 Total Sales revenue Gross profit