Please help me. Ive been trying to do this for 4 hours now.
The accounting records of Wall's China Shop reflected the following balances as of January 1, Year 3 The following five transactions occurred in Year 3 1. First purchase (cash) 115 units \& $89 2. Second purchase (cash) 205 units 2$97 3. Sales (all cash) 360 unts e $192 5. Paid cash for income tax at the rate of 25 percent of income before taxes 4. Paid $16,300 cash for salaries expense 0. Compute the cost of goods sold and ending inventory, assuming (1) FFFO cost flow, (2) LIFO cost flow, and (3) weighted-average cost Required b-1. Use a vertical model to show the Year 3 income statement under FIFO, LFO, and weighted average. (Hint. Record the events flow Compute the income tax expense for each method b.2. Use a vertical model to show the Year 3 balance sheet under FIFO, LIFO, and weighted average. (Hint Record the events under under an accounting equation before preparing the statements) b-3. Use a vertical model to show the Year 3 statement of cash flows under FIFO, LIFO, and weighted average. (Hint. Record the an accounting equation before preparing the statements.) events under an accounting equation before preparing the statements) Complete this question by entering your answers in the tabs below. Compute the cost of goods sold and ending inventory, assuming (1) FIFO cost flow, (2) LiFO cost flow, and (3) weighted: average cost flow. Compute the income tax expense for each method. vote Do not round intermediate calculations. Round your answers to nearest whole dollar amount: First purchase (cash). 115 units o $89 Second purchase (cash) 205 units 0$97 Sales (all cash) 360 units 0$192 Paid $16,300 cash for salaries expense Paid cash for income tax at the rate of 25 percent of income before taxes Compute the cost of goods sold and ending inventory, assuming (1) FFO cost flow, (2) LIFO cost flow, and (3) weighted-avera Required -1. Use a vertical model to show the Year 3 income statement under FFO, LFO, and weighted average. (Hint. Record the even low. Compute the income tax expense for each method. b-2. Use a vertical model to show the Year 3 balance sheet under FIFO, LIFO, and weighted average. (Hint Record the events inder an accounting equation before preparing the statements.) events under an acroul to show the Year 3 statement of cash flows under FIFO, LIFO, and weighted average. (Hint: Record the b-3. Use a verounting equation before preparing the statements.) Use a vertical model to show the Year 3 income statement under FIFO, LFO, and weighted average. (Hint: Record the events under an accounting equation before preparing the statements.) Note: Do not round intermediate calculations, Round your answers to nearest whole dollar amount. 3. Sales (all cash) 360 units o 192 4. Paid $16,300 cash for salanes expense 5. Paid cash for income tax at the rate of 25 percent of income before taxes a. Compute the cost of goods sold and ending inventory, assuming (1) FIFO cost flow, (2) LIFO cost flow, and (3) weighted-average cost Required b-1. Use a vertical model to show the Year 3 income statement under FIFO, LIFO, and weighted average. (Hint. Record the events flow Compute the income tax expense for each method b-2. Use a vertical model to show the Year 3 balance sheet under FIFO, LIFO, and weighted average. (Hint Record the events under under an accounting equation before preparing the statements) b-3. Use a vertical model to show the Year 3 statement of cash flows under FIFO, LIFO, and weighted average (Hint Record the an accounting equation before preparing the statements.) events under an accounting equation before preparing the statements) Complete this question by entering your answers in the tabs below. Use a verticat model to show the Year 3 balance sheet under FIFO, LiFO, and weighted average. (Hint: Record the events under an accounting equation before preparing the statements.) Note: Do not round intermedlate caiculations. Round your answers to nearest whole dollar amount. a. Compute the cost of goods sold and ending inventory, assuming (1) FIFO cost flow, (2) LIFO cost flow, and (3) we flow Compute the income tax expense for each method. b-1. Use a vertical model to show the Year 3 income statement under FIFO. LIFO, and weighted average. (Hint Rec under an accounting equation before preparing the statements.) b-2. Use a vertical model to show the Year 3 balance sheet under FIFO, LIFO, and weighted average. (Hint Record an accounting equation before preparing the statements.) b-3. Use a vertical model to show the Year 3 statement of cash flows under FIFO, LIFO, and weighted average. (Hin 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 3 statement of cash flows under FIFO, LIFO, and weighted average. (Hint: Record events under an accounting equation before preparing the statements.) Note: Do not round intermediate calculations. Round your answers to nearest whole dollar amount. Cash outflows should indicated by a minus sign
