During the year, TRC Corporation has the following inventory transactions. DateTransactionNumber of UnitsUnit CostTotal CostJanuary 1Beginning inventory45$37$1,665April 7Purchase125394,875July 16Purchase195428,190October 6Purchase105434,515 470 $19,245For the entire year, the company sells 414 units of inventory for $55 each. Required:1-a & b. Using FIFO, calculate ending inventory and cost of goods sold.1-c & d. Using FIFO, calculate sales revenue and gross profit.2-a & b. Using LIFO, calculate ending inventory and cost of goods sold.2-c & d. Using LIFO, calculate sales revenue and gross profit.3-a & b. Using weighted-average cost, calculate ending inventory and cost of goods sold.3-c & d. Using weighted-average cost, calculate sales revenue and gross profit.4. Determine which method will result in higher profitability when inventory costs are rising. equired:a & b. Using FIFO, calculate ending inventory and cost of goods sold.c & d. Using FIFO, calculate sales revenue and gross profit.a & b. Using LIFO, calculate ending inventory and cost of goods sold.•c & d. Using LIFO, calculate sales revenue and gross profit.a & b. Using weighted-average cost, calculate ending inventory and cost of goods sold.•c & d. Using weighted-average cost, calculate sales revenue and gross profit.Determine which method will result in higher profitability when inventory costs are rising.Complete this question by entering your answers in the tabs below.Req la and bReq 1c and dReq 2a and bReq 2c and d Req 3a and bReq 3c and dReq 4Using weighted-average cost, calculate ending inventory and cost of goods sold. (Round "Average Cost per unit" to 4 decimal places and all other answers to 2Cost of Goods Available for SaleCost of Goods Sold - Weighted Average CostEnding Inventory - Weighted Average CostWeighted Average CostCost of GoodsAverage Costper UnitNumberNumber Average Cost perNumber of Average Cost perEndingInventoryCost of GoodsAvailable forof unitsof unitsUnitSoldunitsUnitSaleBeginning Inventory452$1,665Purchases:April 071254,875July 161958,190October 061054,515otal470$19,245< Req 2c and dReq 3c and d > Required:1-a & b. Using FIFO, calculate ending inventory and cost of goods sold.1-c & d. Using FIFO, calculate sales revenue and gross profit.2-a & b. Using LIFO, calculate ending inventory and cost of goods sold.2-c & d. Using LIFO, calculate sales revenue and gross profit.3-a & b. Using weighted-average cost, calculate ending inventory and cost of goods sold.3-c & d. Using weighted-average cost, calculate sales revenue and gross profit.4. Determine which method will result in higher profitability when inventory costs are rising.Complete this question by entering your answers in the tabs below.kReq la and bịReq 1c and dReq 2a and bReq 2c and dReq Зa and ЬReq 3c and dReq 4cesUsing LIFO, calculate ending inventory and cost of goods sold.LIFOCost of Goods Available for SaleCost of Goods SoldEnding InventoryCost ofCost ofNumber Cost perGoodsNumberCost perNumberEndingof units per unit InventoryCostGoodsof unitsunitAvailableof unitsunitSoldfor SaleBeginning Inventory45371,665Purchases:April 07125$394,875July 16195$428,190October 06105$434,515Total470$19,245< Req 1c and dReq 2c and d >%24%24

Name: During the year, TRC Corporation has the following inventory transacti
Uploaded: 2024-03-20T06:32:37.000Z
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Description: During the year, TRC Corporation has the following inventory transactions. DateTransactionNumber of UnitsUnit CostTotal CostJanuary 1Beginning inventory45$37$1,665April 7Purchase125394,875July 16Purchase195428,190October 6Purchase105434,515 470 $19,