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

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Date Transaction Number of Units Unit Cost Total Cost

January $1$ Beginning inventory $46$ $$38$ $$1,748$

April $7$ Purchase $126405,040$

July $16$ Purchase $196438,428$

October $6$ Purchase $106444,664$

$474$ $$19,880$

$$For the entire year, the company sells $425$ units of inventory for $$56$ 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.