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During the year, Trombley Incorporated has the following inventory transactions. Date Jan. 1 Mar. 4 Jun. 9 Nov. 11 Transaction Beginning inventory Purchase Purchase Purchase Number of Units 21 26 31 31 Unit Cost $ 23 22 21 19 Total Cost $ 483 572 651 589 109 $ 2,295 For the entire year, the company sells 82 units of inventory for $31 each. 4. Which method will result in higher profitability when inventory costs are declining? Multiple Choice Weighted average o FIFO For the entire year, the company sells 82 units of inventory for $31 each. 4. Which method will result in higher profitability when inventory costs are declining? Multiple Choice Weighted average FIFO LIFO 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 45 125 195 105 Unit Cost $ 37 39 42 43 Total Cost $ 1,665 4,875 8,190 4,515 470 $19,245 For the entire year, the company sells 414 units of inventory for $55 each. 4. Determine which method will result in higher profitability when inventory costs are rising. Multiple Choice FIFO For the entire year, the company sells 414 units of inventory for $55 each. 4. Determine which method will result in higher profitability when inventory costs are rising. Multiple Choice FIFO O LIFO Weighted average