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Required information [The following information applies to the questions displayed below) During the year, TRC Corporation has the following inventory transactions. Date Jan, 1 Apr. 7 Jul. 16 Oct. 6 Transaction Beginning inventory Purchase Purchase Purchase Number of Units 43 123 193 103 Unit Cost $ 35 37 40 41 Total Cost $ 1,505 4,551 7720 4,223 462 $ 17,999 For the entire year, the company sells 412 units of inventory for $53 each. 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 Average # of units Cost per unit Cost of Goods Availabl for Sale Average # of units Cost per unit Cost of Goods Sold Average # of units Cost Ending per unit Inventory Beginning Inventory Purchases: Apr. 7 Jul. 16 Oct. 6 Total 3 During the year, TRC Corporation has the following inventory transactions. 1 of 4 Number of Units 43 Date Jan. 1 Apr. 7 Jul. 16 Oct. 6 Transaction Beginning inventory Purchase Purchase Purchase 123 193 Unit Cost $ 35 37 40 41 Total Cost $ 1,505 4,551 7,720 4,223 103 462 $ 17,999 Book int For the entire year, the company sells 412 units of inventory for $53 each. Required: 1. Using FIFO, calculate ending Inventory, cost of goods sold, sales revenue and gross profit. ences FIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Average Cost of # of units Cost per Goods unit Available for Sale Average # of units Cost per unit Cost of Goods Sold Average # of units Cost Ending Inventory per unit Beginning inventory Purchases Apr. 7 Jul. 16 Oct. Total Sales revenue Gross profit

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