Exercise 6-5 (Algo) Calculate inventory amounts when costs are declining (LO6-3) During the year, Hooker Incorporated has the following inventory transactions. For the entire year, the company sells 82 units of inventory for $31 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 LFO, calculate ending inventory and cost of goods sold. 2-c\& \&. Using LIFO, calculate sales revenue and gross profit. 3-a \& b. Using weighted-average cost, calculate ending inventory and cost of goods sold. 3c \& 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, caiculate ending inventory and cost of goods sold