During the year, Rosenberg Incorporated has the following inventory transactions. Date January 1 Transaction Beginning inventory March 4 Purchase June 9 Purchase November 11 Purchase Number of Units 23 28 33 33 117 Unit Total Cost Cost $575 672 759 693 $2,699 For the entire year, the company sells 89 units of inventory for $33 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 Cost of Goods Available for Sale Cost of Goods Sold Cost of Cost of Number Cost per Goods of units unit Available of units Number Cost per unit Number Goods Sold Ending Inventory Cost Ending of units per unit Inventory for Sale Beginning Inventory 23 $ 25 $ 575 $ 25 S 0 Purchases: March 04 28 $ 24 672 $ 24 0 June 09 33 $ 23 759 $ 23 0 November 11 33 $ 21 693 S 21 0 Total 117 S 2,699 < Req 1a and b Req 1c and d > LIFO Cost of Goods Available for Sale Cost of Goods Sold Number of units Cost per unit Cost of Goods Available of units Number Cost per unit Cost of Goods Sold for Sale Beginning Inventory Purchases: 23 $ 25 $ 575 March 04 28 69 June 09 33 $ November 11 33 69 $ Total 117 $ 24 672 22 23 759 21 $ 693 69 2,699 Ending Inventory Number Cost Ending of units per unit Inventory Cost of Goods Available for Sale Cost of Goods Sold - Weighted Average Cost Ending Inventory - Weighted Average Cost Weighted Average Cost 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 units Average Cost per unit Ending Inventory Beginning Inventory 23 $ 575 Purchases: March 04 28 672 June 09 33 759 November 11 33 693 Total 117 $ 2,699