Blake Company purchased two identical inventory items. The item purchased first cost $24.00, and the item purchased second cost $25.00. Blake sold one of the items for $44.00. Which of the following statements is true?

• Ending inventory will be lower if Blake uses the weighted-average rather than the FIFO inventory cost flow method.

• Cost of goods sold will be higher if Blake uses the FIFO rather than the weighted-average inventory cost flow method.

• The dollar amount assigned to ending inventory will be the same no matter which inventory cost flow method is used.

• Gross margin will be higher if Blake uses LIFO rather than the FIFO inventory cost flow method.