During the year, Lenawee Incorporated has the following inventory transactions. Date Transaction Number of Units Unit Cost Total Cost January 1 Beginning inventory 28 $30 $840 March 4 Purchase 33 29 957 June 9 Purchase 38 28 1,064 November 11 Purchase 38 26 988 137 $3,849 For the entire year, the company sells 101 units of inventory for $38 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