Eddie's Galleria selis biliard tables. The compsny has the following purchases and sales for 2024. Eddie is worried about the company's financial performance. He has noticed an increase in the purchase cost of biliard tabies, but at the same time, competition from other blliard table stores and other entertainment choices have prevented him from increasing the sales price. Eddie is worried if the company's proftablity is too low, stockholders will demand he be replaced. Eddie does not want to lose his job. Since 60 of the 400 billiard tables soid have not yet been picked up by the customers as of December 31 , 2024 , Eddie decides incorrectly to include these tables in ending inventory. He appropriately includes the sale of these 60 tables as part of total revenues in 2024 Required: 1. What amount wil Eddie calculate for ending inventory and cost of goods sold using FIFO, assuming he erroneously reports 110 tables remain in ending inventory? 2. What amount would Eddie calculate for cost of goods sold using FIFO if he correctly reports only 50 tables remain in ending inventory? 3. \& 4. What effect will the imventory error have on reported amounts for (a) ending inventory, (b) retained earnings, (c) cost of goods sold, and (d) net income (ignoring tax effects) in 2024 and in 2025, assuming ending inventory is correctly counted at the end of 2025 ? Complete this question by entering your answers in the tabs below. What amount will Eddie calculate for ending inventory and cost of goods sold using FifO, assuming he eirtaneoushr reperts 110 tables remain in ending inventory? Complete this question by entering your answers in the tabs below. What amount would Eddle calculate for cost of goods sold using FIFO if he correctly reports only 50 tables remain in ending inventory? Complete this question by entering your answers in the tabs below. 3. 8 4. What effect will the inventory error have on reported amounts for (a) ending inventory, (b) retained earnings, (c) cost of goods sold, and (d) net income (ignoring tax effects) in 2024 and in 2025 , assuming ending inventory is correctly counted at the end of 2025