Park Company reported the following March purchases and sales data for its only product. Units Sold at Retail Date Activities Mar. 1 Beginning inventory Mar 10 Sales Mar. 20 Purchase Mar 25 Sales Mar. 30 Purchase Uniti Acquired at Cast 310 units @ $10 20 = 53,162 380 units@ 39 20 3,496 170 units $18.20 305 units $18.20 250 units 5820 2,050 Totals 940 units $8,708 475 units Park uses a perpetual Inventory system for specific identification, ending Inventory consists of 465 units where 250 are from the March 30 purchase. 80 are from the March 20 purchase, and 135 are from beginning inventory 1. Complete comparative income statements for the month of January for Park Company for the four Inventory methods. Assume expenses are $3.200, and that the applicable income tax rate is 35% (Round per unit costs to three decimal places. Round your answers to the nearest dollar amounts. Input all amounts as positive values. Omit the "S" sign in your response.) PARK COMPANY Income Statements For Month Ended March 31 Specific Weighted Identification Average cost FIFO Sales Cost of goods sold Profit before taxes Profit tax expense Net profit 2. Which method yields the highest net profit? O FIFO Weighted average cost Specific identification 3. If costs were rising instead of falling, which method would yield the highest net profit? Specific identification FIFO Weighted average cost