During the year, TRC Corporation has the following inventory transactions.

Date	Transaction	Number of Units	Unit Cost	Total Cost
January 1	Beginning inventory	43	$35	$1,505
April 7	Purchase	123	37	4,551
July 16	Purchase	193	40	7,720
October 6	Purchase	103	41	4,223
		462		$17,999

For the entire year, the company sells 412 units of inventory for $53 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.