qDate January 1 March 4 June 9 November 11 Transaction Beginning inventory Purchase Purchase Purchase Number of Units 23 28 33 33 117 d Unit Cost $25 24 23 21 Total Cost $575 672 759 693 $2,699 For the entire year, the company sells 89 units of inventory for $33 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 declining.

For the entire year, the company sells 89 units of inventory for $33 each. Required: 1. \& 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 declining