Assuming that for Specific identification method (item 1d) 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. Required: 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: (Round intermediate calculations to 2 decimal places and final answers to the nearest whole dollar amount.) Of the four methods, which will result in the highest gross profit? Last-in, first-out weighted average cost first-in, first-out Specific identification Of the four methods, which will result in the lowest income taxes? Last-in, first-out weighted average cost first-in, first-out Specific identification