During the year, Rosenberg Incorporated has the following inventory transactions. Date Transaction January 1 Beginning inventory March 4 June 9 Purchase Purchase November 11 Purchase Number of Unit Total Units Cost Cost 10 $12 $120 15 11 165 20 10 200 20 8 160 65 $645 For the entire year, the company sells 50 units of inventory for $20 each. 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: Ending Inventory Cost of Goods Available for Sale Cost of Goods Sold Cost of Cost of Number of units Cost per unit Goods Available Number Cost per Number of units unit Goods Sold of units for Sale 10 $ 12 $ 120 $ 12 March 04 15 $ 11 165 S 11 June 09 20 $ 10 200 $ 10 November 11 20 $ 00 8 160 $ 8 Total 65 $ 645 Cost Ending per unit Inventory For the entire year, the company sells 50 units of inventory for $20 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 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 ending inventory and cost of goods sold. Req 4 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 10 $ 12 $ 120 1228 15 SS 11 165 20 $ 10 200 20 $ 8 160 65 645 Ending Inventory Number Cost Ending of units 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 Req 4 Using LIFO, calculate sales revenue and gross profit. Sales revenue Gross profit Using weighted average cost, calculate ending inventory and cost of goods sold. (Round "Average Cost per unit" to 4 decimal places and all other and Cost of Goods Sold - Weighted Average Cost Ending Inventory - Weighted Average Cost Weighted Average Cost Beginning Inventory Purchases Cost of Goods Available for Sale Number of units Average Cost per unit Cost of Goods Available for Sale Number of units Average Cost per Unit Cost of Goods Sold Number of Average Cost units per unit Ending Inventory 10 $ 120 March 04 15 165 June 09 20 200 November 11 20 160 Total 65 $ 645 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 Determine which method will result in higher profitability when inventory costs are declining Req 4. declining