Required information [The following information applies to the questions displayed below] Park Company reported the following March purchases and sales data for its only product. Park uses a perpetual inventory system. For specific identification, ending inventory consists of 255 units, where 110 are from the March 30 purchase, 80 are from the March 20 purchase, and 65 are from beginning inventory Sequired: Complete comparative income statements for the month of March for Park Company for the three inventory methods Assume xperises are 51,600 and that the applicable income tax rate is 30% (Round your Intermediate calculations to 2 decimal places.) Park uses a perpetual inventory system. For specific identification, ending inventory consists of 255 units, where 110 are from the March 30 purchase, 80 are from the March 20 purchase, and 65 are from beginning inventory. Required: 1. Complete comparative income statements for the month of March for Park Company for the three inventory methods. Assume expenses are $1,600 and that the applicable income tax rate is 30\%. (Round your Intermediate calculations to 2 decimal places.) 2. Which method yields the highest net profit? LIFO Weighted average FIFO Specific identification 3. If costs were rising instead of falling, which method would yield the highest net profit? LIFO FIFO Specific identification Weighted average