For this week's dis based on the first letter of your last name: My last name starts with M$.$ A $-$ H: FIFO group I$-$ R: LIFO group S $-$Z: Weighted Average group The accounting records of Blue Bird Co$.$ showed the following balances at January $1,$ Year $2.($ATC $5-2$ in the textbook$).$ Cash $$30,000$ Beginning inventory $(100$ units @ $$50,70$ units @ $$55)8,850$ Common stock $20,000$ Retained earnings $18,850$ Transactions for Year $2$ were as follows. Purchased $100$ units @ $$54$ per unit. Sold $220$ units @ $$80$ per unit. Purchased $250$ units @ $$58$ per unit. Sold $200$ units @ $$90$ per unit. Paid operating expenses of $$3,200.$ Paid income tax expense. The income tax rate is $30\%.$Determine the amount of ending inventory, cost of goods sold, gross margin, and net income after income tax for the cost flow method assigned to your group. The company uses the perpetual inventory system. Also prepare an income statement using your group's cost flow method. Share your findings with the rest of the class through the discussion board. Some questions to discuss: What effect does each cost flow method has on assets $($including inventory$),$ net income, and cash flow? Which method is preferred for tax reporting? For financial reporting? What restrictions are placed on the use of LIFO for tax reporting? You may choose to split up the work as a group or work on your own, but each student must still make the usual $3$ post