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$2$

During the year, Rosenberg Incorporated has the following inventory transactions.

$12\mathrm{.}5$

points

$\backslash$table$[[$Date$,$Transaction,Number of Units,$\backslash$table$[[$Unit$],[$Cost$]],$Total Cost$],[$January $1,$Beginning inventory,$23,$$$25,$$$575],[$March $4,$Purchase,$28,24,672],[$June $9,$Purchase,$33,23,759],[$November $11,$Purchase,$33,21,693],[,,117,,$$$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.

Answer is complete but not entirely correct.

Complete this question by entering your answers in the tabs below.

$\backslash$table$[[$Sales revenue,$$,2,937\mathrm{.}00$