E6-5 During the year. Triumph Incorporated has the following inventory transactions. Date Unit Cost Total Cost Jan. 1 Transaction Beginning inventory Purchase Purchase Purchase Number of Units 20 25 Mar. 4 $22 21 20 30 Jun. 9 Nov. 11 $ 440 525 600 540 $2,105 30 18 105 For the entire year, the company sells 81 units of inventory for $30 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 declining