I just literally can't figure out this one and I've tried everything.
Complete this question by entering your answers in the tabs below. Use a vertical model to show the Year 2 balance sheet under FIFO, LIFO, and weighted average. (Do not round intermediate calculations. Round your answers to nearest whole dollar amount.) The accounting records of Wall's China Shop reflected the following balances as of January 1, Year 2: The following five transactions occurred in Year 2: 1. First purchase (cash) 120 units at $87 2. Second purchase (cash) 200 units a $95 3. Sales (all cash) 360 units 0 \$195 4. Paid $15,350 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 flow, (2) LIFO cost flow, and (3) weighted-average cost flow. b. Use a vertical model to show the Year 2 income statement, balance sheet, and statement of cash flows under FIFO. LIFO, and weighted average. (Hint: Record the events under an accounting equation before preparing the statements) Complete this question by entering your answers in the tabs below. Use a vertical model to show the Year 2 balance sheet under FIFO, LIFO, and weighted average. (Do not round intermediate calculations. Round your answers to nearest whole dollar amount.) The accounting records of Wall's China Shop reflected the following balances as of January 1, Year 2: The following five transactions occurred in Year 2: 1. First purchase (cash) 120 units at $87 2. Second purchase (cash) 200 units a $95 3. Sales (all cash) 360 units 0 \$195 4. Paid $15,350 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 flow, (2) LIFO cost flow, and (3) weighted-average cost flow. b. Use a vertical model to show the Year 2 income statement, balance sheet, and statement of cash flows under FIFO. LIFO, and weighted average. (Hint: Record the events under an accounting equation before preparing the statements)