During the year , TRC Corporation has the following inventory transactions . Date Transaction Number Unit Total cost of Units 150 - Jan . 1 Beginning...

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1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit.
2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit.
3. Using weighted-average cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. (Round "Weighted-Average Cost per unit" to 4 decimal places)
4. Determine which method will result in higher profitability when inventory costs are rising.

During the year , TRC Corporation has the following inventory transactions .DateTransactionNumberUnitTotal costof Units150 -Jan . 1Beginning inventory*4153=$ 1 , 353APT. ?Purchase121354 , 235Jul . 10Purchase1918 87, 258Oct . 5Purchase101353, 93.9Total45415 , 785For the entire year , the company sells 410 units of inventory for $51 each .Required :1 . Using FIFO , calculate ending inventory , cost of goods sold , sales revenue , and gross profit .2. Using LIFO , calculate ending inventory , cost of goods sold , sales revenue , and gross profit .3 . Using weighted -average cost , calculate ending inventory , cost of goods sold , sales revenue , and gross profit . ( Round " Weighted -Average Cost per unit " to 4 decimal places )4 . Determine which method will result in higher profitability when inventory costs are rising .Submitting this assignment :"7 . The assignment must be submitted as an Excel document .