Apple Inc. uses the LIFO method for inventory costing. For the fiscal year ended September 30, 2023, the following data is available:

Apple Inc. started the year with 5,000 units of iPhone 13 models valued at $800 each. During the year, they purchased an additional 15,000 units at $850 each on March 1 and 20,000 units at $900 each on June 1. By the end of the fiscal year, 25,000 units remained in inventory. Apple Inc. sold a total of 15,000 units during the year.

a. Calculate the cost of goods sold (COGS) using the LIFO method for Apple Inc. b. Determine the value of ending inventory using the LIFO method. c. Explain how the LIFO method influences Apple Inc.’s financial statements. d. Discuss the tax implications of using LIFO for Apple Inc. e. Analyze the impact of using LIFO on Apple Inc.’s profitability metrics.