Compute the cost of ending inventory and cost of goods sold under (a) FIFO, (b) LIFO, and (c) weighted average cost. FIFO LIFO Weighted Average Cost Cost of Ending Inventory $ 124,800 $ $ $ 116,300 X $ $ 113,184 $ Cost of Goods Sold 268,200 276,700 273,528 Prepare an income statement that shows the FIFO method, LIFO method and weighted average method. SCORESBY INC. Income Statement For the Year Ended December 31 FIFO LIFO Sales Revenue Weighted Average $ 657,000 273,528 383,472 % 406,000 $ 657,000 657,000 268,200 276,700 388,800 380,300 406,000 406,000 Cost of Goods Sold Gross Profit Operating Expenses Income (Loss) from Operations S (17,200) $ (22,528) (25,700)