During the year, Rosenberg Incorporated has the following inventory transactions.

Date		Transaction	Number of Units	Unit Cost	Total Cost
January 1		Beginning inventory	19	$21	$399
March 4		Purchase	24	20	480
June 9		Purchase	29	19	551
November 11		Purchase	29	17	493
			101		$1,923

For the entire year, the company sells 80 units of inventory for $29 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.