method at the end of each perlod, as if it uses a perlodic Inventory system. Assume its accounting records provided the following Information at the end of the annual accounting period, December 31. Required: 1. Compute the amount of goods avallable for sale, ending Inventory, and cost of goods sold at December 31 , under each of the following Inventory costing methods. For Specific Identlfication, assumIng that the March 14, sale was selected two-fifths from the beginning Inventory and three-fifths from the purchase of January 30. Assume that the sale of August 31 , was selected from the remainder of the beginning Inventory, with the balance from the purchase of May 1. (Do not round Weighted average cost per unit. Round your final answers to the nearest dollar amount.) 2-a. Of the three methods, which will result in the highest gross profit? Welghted average cost First-In, first-out Specific Identlfication 2-b. Of the three methods, which will result In the lowest Income taxes? Welghted average cost First-In, first-out Specific Identlfication