Apple Inc. follows the FIFO (First-In-First-Out) method for inventory valuation. Analyze Apple's financial statements for the fiscal year ending December 31, 2024, and calculate the cost of goods sold (COGS) using the FIFO method. Then, compare the results with the LIFO (Last-In-First-Out) method. Provide a detailed explanation of how the choice of inventory valuation method impacts Apple's profitability. Additionally, assess the implications of Apple's inventory valuation method on its tax obligations and cash flow management.

Requirements:

1. Calculate the COGS for Apple Inc. using the FIFO method given the following data: Beginning inventory value: $500,000, Purchases during the year: $2,000,000, Ending inventory value: $700,000.
2. Compare the COGS calculated using the FIFO method with that calculated using the LIFO method, assuming all other factors remain constant. Provide a rationale for any differences observed.
3. Evaluate the tax implications of Apple's choice of inventory valuation method, considering the impact on taxable income and cash flow management. Use a corporate tax rate of 25% for your analysis.