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"QRS Corporation engaged in comprehensive inventory transactions in the year: - January 1: Purchased 500 units at $8 each, totaling $4,000. - March 1: Purchased 300 units at $10 each, amounting to $3,000. - April 15: Sold 200 units at $18 each. - June 1: Purchased 400 units at $12 each, totaling $4,800. - July 10 : Sold 150 units at $20 each. - August 5: Purchased 600 units at $14 each, totaling $8,400. - September 20: Sold 300 units at $22 each. - October 15: Purchased 700 units at $16 each, amounting to $11,200. - November 30: Sold 400 units at $24 each. - December 10: Purchased 500 units at $18 each, totaling $9,000. - December 20: Sold 350 units at \$25 each. Calculate the cost of goods sold (COGS) and ending inventory using the FIFO (First-In, First-Out) and Weighted Average (WA) inventory valuation methods. Provide detailed step-by-step calculations for COGS and ending inventory for both FIFO and WA methods. Discuss the implications of each inventory valuation method on the company's financial statements (specifically, the income statement and balance sheet) and its overall profitability. Compare the outcomes and explain the financial impacts of choosing each valuation method on the company's financial performance