Date Transaction Number of Units Unit Cost Total Cost January 1 Beginning inventory 47 $39 $1,833 April 7 Purchase 127 41 5,207 July 16 Purchase 197 44 8,668 October 6 Purchase 107 45 4,815 478 $20,523 For the entire year, the company sells 426 units of inventory for $57 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