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 $31.$

$\backslash$table$[[$Transactions$,$Units,,$],[\backslash$table$[[$Beginning inventory, January $1],[$Transactions during the year:$]],1,600,$$$,40],[\backslash$table$[[$a$.$ Purchase, January $30],[$b$.$ Sale, March $14($ $$100$ each$)]],\backslash$table$[[3,650],[(2,000)$

$2-$b$.$ Of the four methods, which will result in the lowest income taxes?

Complete this question by entering your answers in the tabs below.

Req $1$

Req $2$A

Req $2$B

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 calculations to $2$ decimal places and final answers to the nearest whole dollar amount.$)$

$\backslash$table$[[,\backslash$table$[[$Amount of Goods$],[$Available for Sale$]],$Ending Inventory,$\backslash$table$[[$Cost of Goods$],[$Sold $.]]],[$a$.$ Last$-$in$,$ first$-$out,,,$],[$b$.$ Weighted average cost,,,$],[$c$.$ First$-$in$,$ first$-$out,,,$],[$d$.$ Specific identification,,,$]]$