During the year, TAC Corporation has the following inventory

transactions.

For the entire year, the company sells $200$ units of inventory for $$50$ each.

Required:

$1.$Using FIFO, calculate $($a$)$ ending inventory, $($b$)$ cost of goods sold, $($c$)$ sales revenue, and $($d$)$

gross profit.

$2.$Using LIFO, calculate $($a$)$ ending inventory, $($b$)$ cost of goods sold, $($c$)$ sales revenue, and $($d$)$

gross profit.

$3.$Using weighted$-$average cost, calculate $($a$)$ ending inventory, $($b$)$ cost of goods sold, $($c$)$ sales

revenue, and $($d$)$ gross profit.

$4.$Determine which method will result in higher profitability when inventory costs are rising.