During the year, Hooker Incorporated has the following inventory transactions. Date January 1 March 4 June 9 November 11 Transaction Beginning inventory Purchase Purchase Purchase Number of Units 24 29 34 Unit Cost $26 25 24 22 Total Cout $624 725 816 748 $2,913 121 For the entire year, the company sells 90 units of inventory for $34 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 declining. Complete this question by entering your answers in the tabs below. Reg 4 Reg la and Regic and a Reg za and Reg 2c and a Reg 3a and Reg 30 and a Using FIFO, calculate ending inventory and cost of goods sold. FIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Number Cost per Goods of units unit Available for Sale 24 S 26 S 624 Number of units Cost per unit Cost of Goods Sold Number Cost Ending of units per unit Inventory $ 26 $ 0 29 Un 25 725 $ 25 0 Beginning Inventory Purchases: March 04 June 09 November 11 Total 34 S 24 816 24 0 $ $ S 22 748 22 0 34 121 S 2,913 Req 1a and b Req 1c and d > Complete this question by entering your answers in the tabs below. Reg 4 Reg la and Reg 1c and a Reg za and b Req 2c and a Reg 32 and b Req 3c and a Using FIFO, calculate sales revenue and gross profit. Sales revenue Gross profit Complete this question by entering your answers in the tabs below. Req 4 Ending Inventory Req la and Regic and a Reg 22 and b Reg 2c and a Reg 3a and b Reg 30 and a Using LIFO, calculate ending inventory and cost of goods sold. LIFO Cost of Goods Available for Sale Cost of Goods Sold Cost of Number Cost per Goods Number Cost of Cost of units unit Available of units per unit Goods for Sale Sold Beginning Inventory 24 $ $ 624 Purchases: March 04 29 $ 25 725 June 09 34 $ 24 816 November 11 34 $ 22 748 Total 121 $ 2,913 Number Cost Ending of units per unit Inventory 26 Reg la and be Req lc and a Reg 2a and bReq 2c and d Req 3a and b Reg 3c and d Reg 4 Using LIFO, calculate sales revenue and gross profit. Sales revenue Gross profit Reg la and b Req lc and a Reg 2a and b Req 2c and a Reg 3a and b Req 3c and d Reg 4 Cost of Goods Number units Using 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 2 decimal places.) Cost of Goods Available for Sale Cost of Goods Sold - Weighted Average Ending Inventory - Weighted Average Cost Cost Weighted Average Cost Number Average Cost Available for Average Cost Cost of Number of Average Cost Ending of units per unit Sale of units per Unit Goods Sold per unit Inventory Beginning Inventory 24 S 624 Purchases: March 04 725 June 09 816 November 11 34 121 2.913 29 748 Total S Complete this question by entering your answers in the tabs below. Reg 4 Reg la and Req lc and Reg za and b Reg 2c and a Reg 32 and 1 Req 3c and a Using weighted-average cost, calculate sales revenue and gross profit. (Round answers to 2 decimal places.) Sales revenue Gross profit Complete this question by entering your answers in the tabs below. Reg 4 Reg la and Regic and a Reg za and Reg 2c and a Reg 3a and Reg 30 and a Determine which method will result in higher profitability when inventory costs are declining. Determine which method will result in higher profitability when inventory costs are declining.