How much more cash will be available for management under LIFO than FIFO? Why? Will gross profit under the average-cost method be higher or lower than Than LIFO? You are provided with the following information for Najera Inc. for the ended June 30, 2014, Najera uses the periodic method for inventory. Calculate ending inventory, cost of goods sold, gross profit, and gross profit late under each of the following methods. LIFO, FIFO, Average-cost, Compare results for the three cost flow assumptions. You are provided with the following information for Barton Inc. Barton Inc. uses the periodic method of accounting for its inventory transactions. March 1 Beginning inventory 2,000 liters at a cost of 60 per liter. March 3 Purchased 2, 500 liters at a cost of 65 per liter. March 5 Sold 2, 300 liters for $1.05 per liter. March 10 Purchased 4,000 liters at a cost of 72 per liter. March 20 Purchased 2, 500 liters at a cost of 80 per liter. March 30 Sold 5, 200 liters for $ 1.25 per liter. Prepare partial income statements through gross profit, and calculate the value of ending inventory that would be reported on the balance sheet, under each of the following cost flow assumptions. (Round ending inventory and cost of goods sold to the nearest dollar.) Specific identification method assuming: The March 5 sale consisted of 1,000 liters from the March 1 beginning inventory and 1, 300 liters from the March 3 purchase; and The March 30 sale consisted of the following number of units sold from beginning inventory and each purchase: 450 liters from March 1; 550 liters from March 3; 2, 900 liters from March 10; 1, 300 liters from March 20. FIFO. LIFO