During the year, TRC Corporation has the following inventory transactions. Date Transaction Number of Units Unit Cost Total Cost January 1 Beginning inventory 54 $46 $2,484 April 7 Purchase 134 48 6,432 July 16 Purchase 204 51 10,404 October 6 Purchase 114 52 5,928 506 $25,248 For the entire year, the company sells 440 units of inventory for $64 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. 4. Determine which method will result in higher profitability when inventory costs are rising.