1) On a classified balance sheet, which is the least liquid asset listed below?

1) On a classified balance sheet, which is the least liquid asset listed below?

Inventories

Cash and cash equivalents

Accounts receivable, net

Short-term investments

2) In periods of rising prices, which of the following inventory methods results in the highest gross profit figure? 

       FIFO

       LIFO

       Average cost method

       Cannot be determined based on the information given