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 17 22 27 27 93 Unit Total Cost Cost $19 $323 18 17 459 15 405 $1,583 396 For the entire year, the company sells 70 units of inventory for $27 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