Beston, Inc. has the following income statement data available for 2019:

Sales revenue	$737,200
Operating expenses	243,700
Interest expense	39,500
Income tax rate	33%

Beston uses a perpetual inventory accounting system and the average cost method. Beston is considering adopting the FIFO or LIFO method for costing inventory. Beston's accountant prepared the following data:

	If Average Cost Used		If FIFO Used		If LIFO Used
Ending inventory	$65,950		$78,500		$40,100
Cost of goods sold	399,050		386,500		424,900

Required:

1. Compute income before taxes, income taxes expense, and net income for each of the three inventory costing methods. (Round to the nearest dollar.)

	Weighted Average	FIFO	LIFO
Income before taxes		fill in the blank	fill in the blank
Income tax expense	fill in the blank	fill in the blank	fill in the blank
Net income	fill in the blank	fill in the blank	fill in the blank

2. Conceptual Connection: Which method produces the most realistic amount for net income? For inventory?

For net income	FIFO method,LIFO method,Average cost method
For inventory. FIFO method,LIFO method,Average cost method