Complete this question by entering your answers in the tabs below. Req A Req B1 Req B2 Req B3 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. FIFO LIFO Weighted Average Cost of goods sold Ending inventoryThe accounting records of Wall's China Shop reected the following balances as of January 1. 2018: Cash $80,100 Beginning inventory 33,000 (220 units @ $150) Common stock 50,000 Retained earnings 63,100 The following five transactions occurred in 2018: 1. First purchase (cash) 150 units @ $155 2. Second purchase (cash) 160 units @ $160 3. Sales (all cash) 410 units @ $320 4. Paid $38,000 cash for salaries expense 5. Paid cash for income tax at the rate of 25 percent of income before taxes Required a. Compute the cost of goods sold and ending inventory, assuming {1) FIFO cost ow, (2) LIFO cost ow, and (3} weightedaverage cost flow. Compute the income tax expense for each method