During the year, TRC Corporation has the following inventory transactions. Number of Unit Total Date January 1 Transaction Beginning inventory April 7 Purchase July 16 Purchase October 6 Purchase Units Cost Cost 48 $40 $1,920 128 42 5,376 198 45 8,910 108 46 4,968 482 $21,174 For the entire year, the company sells 427 units of inventory for $58 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 rising.