2. I need #4, 5, and 7

Exercise 0-7S (AIgo) Caiculate inventory using lower of cost ana net realizadie value (LUb-b) Down Home Furnishings reports inventory using the lower of cost and net realizable value (NRV). Below is information related to its year-end inventory. Required: 1. Calculate the total recorded cost of ending inventory before any adjustments. 2. Calculate ending inventory using the lower of cost and net realizable value. 3. Record any necessary adjusting entry for inventory. 4. Determine the impact of the adjusting entry in the financial statements. Complete this question by entering your answers in the tabs below. Problem 6-2B (Algo) Calculate ending inventory, cost of goods sold, sales revenue, and gross profit for four inventory methods (LO6-3, 6-4. 6-5) Bobby's Tennis Shop has the following transactions felated to its top-selling Wisan tennis racket for the month of August. Bobby's Tennis Shop uses a periodic inventory system. For the specific identification method, the August 4 sale consists of rackets from beginning irventory, the August 13 sale consists of rackets from the August 11 purchase, and the August 26 sale consists of one racket from beginning inventory and 10 rackets from the August 20 purchase Required: 1. Colculate ending inventory and cost of goods sold at August 31, using the specific identification method. 2. Using FiFO, calculate ending inventory and cost of goods sold of August 31 . 3. Using UFO, calculate ending inventory and cost of goods sold at August 31. 4. Using weighted-average cost, calculate ending inventory and cost of goods soid at August 31. 5. Calculate sales revenue and gross profit under each of the fout methods. 6. Comparing FIFO and LIFO, which one provides the more meaningful measure of ending inventory? 7. If Bobby's chooses to report inventory using LIFO, record the LIFO adjustment