HomeFurnish Inc. uses a periodic inventory system. It recorded the following transactions for April:

Date	Activity	Units	Unit Cost
Apr. 1	Beginning Inventory	300	$60
Apr. 6	Purchase	500	$65
Apr. 12	Sale	450	-
Apr. 18	Purchase	400	$70
Apr. 25	Sale	350	-

Specific identification details: The April 12 sale consisted of 100 units from beginning inventory and 350 units from the April 6 purchase. The April 25 sale consisted of 200 units from the April 18 purchase and 150 units from the April 6 purchase.

Required:

1. Compute the ending inventory and COGS using specific identification and FIFO methods.
2. Determine the gross profit using the LIFO method.
3. Evaluate the impact of different inventory costing methods on HomeFurnish Inc.'s financial performance.
4. Provide recommendations on inventory management strategies to enhance profitability.