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Gladstone Company tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period, as if it uses a periodic inventory system. Assume its accounting records provided the following information at the end of the annual accounting period, December 31 Assuming that for Specific identification method (item fid) the March 14 sale was selected two.fifus from the beginning inventory and three-fifthis from the purchase of Januacy 30 1. Compute the amount of goods available for sale, ending inventory, and cost of goods sold at December 31 under each of the following inventory costing methods: a. Last-in, first-out. b. Weighted average cost. c. First-in, first-out. d. Specific identification, assuming that the March 14 sale was selected twoififths from the beginning invertory and thiee-fiftis from thie purchase of January 30. Assume that the sale of August 31 wos selected from the remainder of the beginning inventory with th balance from the purchase of May 1 2.e. Of the four methods, which will result in the highest gross profie? 2.b. Of the four methods, which will resuit in the lowest income taxes? Compute the amount of goods available for sale, ending inventory, and cost of goods sold at December 31 under each of the inventory costing methods, (Round intermediate calculstions to 2 decimal places and final answers to the nearest whole doliar amount.) Complete this question by entering your answers in the tabs below. Of the four methods, which will result in the highest gross profit? Complete this question by entering your answers in the tabs below. of the four methods, which will result in the lowest income taxes

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