Exercise 6-5 (Algo) Calculate inventory amounts when costs are declining (LO6-3) During the year, Rosenberg Incorporated has the following inventory transactions. Date January 1 March 4 June 9 Transaction Beginning inventory Purchase Purchase November 11 Purchase Number of Unit Total Units Cost Cost 29 $31 $899 34 30 1,020 39 29 1,131 39 27 1,053 141 $4,103 For the entire year, the company sells 110 units of inventory for $39 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. Check my worl