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Exercise 6-5 (Algo) Calculate inventory amounts when costs are declining (LO6-3) During the year, Rosenberg Incorporated has the following inventory transactions. For the entire year, the company sells 50 units of inventory for $20 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. Compiete this question by entering your answers in the tabs below. Using FIFO, calculate ending inventory and cost of goods sold. 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. Complete this question by entering your answers in the tabs below. Using FIFO, calculate sales revenue and gross profit. 4. Determine which method will result in higher profitability when inventory costs are declining. Complete this question by entering your answers in the tabs below. Using LIFO, calculate ending inventory and cost of goods sold. Complete this question by entering your answers in the tabs below. Using LIFO, calculate sales revenue and gross profit. 3.c \& d. Using weighted-average cost, calculote sales revenue and gross profit. 4. Determine which method will result in higher profitability when inventory costs are declining. Complete this question by entering your answers in the tabs below. 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. Complete this question by entering your answers in the tabs below. Using weighted-average cost, calculate sales revenue and gross profit. (Round answers to 2 decimal places.) S-a \& D. Using weignted-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. Complete this question by entering your answers in the tabs below. Determine which method will result in higher profitability when inventory costs are decilining