00 Deginning inventory (210 $92) $16,800 19.320 15.500 20.620 Retained earnings The following five transactions occurred in Year 3: 1. First purchase (cash): 125 units o$94 2. Second purchase (cash): 205 units $102 3. Sales (all cash 365 units $189 4. Paid $13,850 cash for salaries expense 5. Paid cash for income tax at the rate of 25 percent of income before taxes los Required a. Compute the cost of goods sold and ending inventory, assuming (1) FIFO cost flow. (2) LIFO cost flow, and (3) weighted average cost flow. Compute the income tax expense for each method b. Use a vertical model to show the Year 3 income statement, balance sheet, and statement of cash flows under FIFO, LIFO, and weighted average. (Hint: Record the events under an accounting equation before preparing the statements) Roterences Complete this question by entering your answers in the tabs below. Required A Required 1 Required 2 Required Compute the cost of goods sold and ending inventory, assuming (1) FIFO Cut How, (2) UFO cost now, and (3) weighted average cost how compute the income tax expense for each method. (Do not found intermediate calculations. Round your wers to rest whole dollar amount.) Costando Erding inventory Required 1 >