Specific explanation please. Will upvote!

Gladstone Company trocks the number of units purchased and sold throughout each accounting period but apples 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 . Assuming that for Specific identification method (item tid the March 14 saie wos selected two-frits from the beginning inventory and three-fiths from the purchase of January 30 . Required: 1. Compute the amount of goods available for sale, ending inventory, and cost of goods sold at December 31 under each of the following inventory costing methods: a. Last-in, first-out. b. Weighted average cost. c. First-in, first-out. d. Specific identification, assuming that the March 14 sale was selected two-fiths from the beginning intertory and three-fittus 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 fram the purchase of May 1 2-a. Of the four methods, which will result in the highest gross profit? 2-b. Of the four methods, which will result in the lowest income taxes? 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.)