HomeFurnish Ltd. uses a periodic inventory system. It entered into the following transactions for April.

Date	Activities	Units Acquired at Cost	Units Sold at Retail
Apr. 1	Beginning inventory	220 units @ $85 per unit
Apr. 5	Purchase	400 units @ $90 per unit
Apr. 12	Sales		350 units @ $130 per unit
Apr. 18	Purchase	320 units @ $95 per unit
Apr. 25	Sales		300 units @ $140 per unit

For specific identification, the April 12 sale consisted of 100 units from beginning inventory and 250 units from the April 5 purchase; the April 25 sale consisted of 150 units from the April 18 purchase and 150 units from the April 5 purchase.

Required:

1. Compute the ending inventory value using specific identification and FIFO methods.
2. Calculate the COGS using the LIFO method.
3. Evaluate how the inventory costing method affects HomeFurnish Ltd.'s inventory turnover ratio.
4. Discuss the advantages and disadvantages of each inventory costing method for HomeFurnish Ltd.