Maxi Company made the following merchandise purchases and sales during the month of May: The company uses the Last-in first-out (LIFO) method and the perpetual system. The operating expenses totaled $855 and the tax rate is 25%. Determine the amounts for cost of the ending inventory and cost of goods sold if the company uses; A. First-in, first-out (FIFO) method B. Last-in, first-out (LIFO) method C. Weighted Average method Prepare the income statement if the company uses LIFO method. Show the effect on the Balance Sheet if the company use LIFO method