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 $ 0 Beginning Inventory Purchases: Apr 07 Jul 16 Oct 06 Total $ 0 Sales revenue Gross profit 3. Using weighted-average cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. (Round "Average Cost per unit" to 4 decimal places and all other answers to the nearest whole number.) Cost of Goods Available for Sale Cost of Goods Sold - Weighted Average Cost Ending Inventory - Weighted Average Cost Weighted Average Cost # of units Cost per unit Cost of Goods # of units Available for Sold Sale Cost per Unit Cost of Goods Sold # of units in Ending Inventory Cost per unit Ending Inventory $ 1,505 Beginning Inventory Purchases: 123 4,551 Apr 07 Jul 16 193 7,720 Oct 06 103 4,223 Total 462 17,999 Sales revenue Gross profit 4. Determine which method will result in higher profitability when inventory costs are rising. Multiple Choice Weighted-average LIFO FIFO