During the year, Lenawee Incorporated has the following inventory transactions. Date January 1 Transaction Beginning inventory March 4 June 9 Purchase Purchase November 11 Purchase Number of Unit Units Total Cost Cost 28 $30 $840 33 29 957 38 28 1,064 38 26 137 988 $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. Complete this question by entering your answers in the tabs below. Req 1a and b Req 1c and d Req 2a and b Req 2c and d Req 3a and b Req 3c and d Req 4 Using FIFO, calculate ending inventory and cost of goods sold. FIFO Beginning Inventory Purchases: March 04 June 09 Ending Inventory Cost of Goods Available for Sale Cost of Goods Sold Cost of Cost of Number of units Cost per unit Goods Number Cost per Number Goods Available of units unit of units Sold for Sale 30 28 $ $ 840 $ 30 33 33 38 $ SS $ 225 29 957 $ 29 28 1064 $ 28 Cost Ending per unit Inventory Req 1a and b Req 1c and d Req 2a and b Req 2c and d Req 3a and b Req 3c and d Using FIFO, calculate ending inventory and cost of goods sold. Req 4 FIFO Beginning Inventory Purchases: March 04 Ending Inventory Cost of Goods Available for Sale Cost of Goods Sold Cost of Number of units Cost per unit Goods Number Available of units Cost per unit Cost of Goods Number of units Sold for Sale 28 $ 30 $ 840 $ 30 33 $ June 09 38 $ November 11 38 $ 222 29 957 $ 29 28 1064 $ 28 988 $ 26 Total 137 $ 3,849 Cost Ending per unit Inventory 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. Complete this question by entering your answers in the tabs below. Req 1a and b Req 1c and d Req 2a and b Req 2c and d Req 3a and b Req 3c and d Using FIFO, calculate sales revenue and gross profit. Sales revenue Gross profit Req 4 Using LIFO, calculate ending inventory and cost of goods sold. LIFO Beginning Inventory Purchases: March 04 June 09. November 11 Total Cost of Goods Available for Sale Cost of Goods Sold Number of units Cost per unit Cost of Goods Available Number of units Cost per unit Cost of Goods Sold for Sale 28 $ 30 $ 840 33 $ 38 $ 38 $ 137 222 957 1,064 988. $ 3,849 Ending Inventory Number Cost Ending. of units per unit Inventory < Prev 7 of 7 Next > Complete this question by entering your answers in the tabs below. Req 1a and b Req 1c and d Req 2a and b Req 2c and d Req 3a and b Req 3c and d Using LIFO, calculate sales revenue and gross profit. Sales revenue Gross profit Req 4 Complete this question by entering your answers in the tabs below. Req 1a and b Req 1c and d Req 2a and b Req 2c and d Req 3a and b Req 3c and d Req 4 Using weighted-average cost, calculate ending inventory and cost of goods sold. Note: Round "Average Cost per unit" to 4 decimal places and all other answers to 2 decimal places. Weighted Average Cost Beginning Inventory Purchases Cost of Goods Available for Sale Cost of Goods Sold-Weighted Average Cost Ending Inventory - Weighted Average Cost Number of units Cost of Goods Average Cost per unit Available for Sale Number of units Average Cost per Unit Cost of Goods Sold Number of units Average Cost per unit Ending Inventory 28 $ 840 March 04 33 957 June 09 38 1064 November 11 38 988 Total 137 $ 3,849 Complete this question by entering your answers in the tabs below. Req 1a and b Req 1c and d Req 2a and b Req 2c and d Req 3a and b Req 3c and d Using weighted-average cost, calculate sales revenue and gross profit. Note: Round answers to 2 decimal places. Sales revenue Gross profit < Req 3a and b Req 4 > Req 4 Jility when inventory costs are declining. Complete this question by entering your answers in the tabs below. Req 1a and b Req 1c and d Req 2a and b Req 2c and d Req 3a and b Req 3c and d 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. Leq 4 Req 4 < Req 3c and d Req 4 >