sessment The accounting records of Wall's China Shop reflected the following balances as of January 1. Year 2: Cash Beginning inventory Common stock Retained earnings $19,200 18.655 (205 unita & $91) 14,800 23,055 The following five transactions occurred in Year 2: 1. First purchase (cash) 125 units @ $93 2. Second purchase (cash) 200 units @ $101 3. Sales (all cash) 360 units @ $187 4. Paid $13,400 cash for salaries expense 5. Pald 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 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.) flow Complete this question by entering your answers in the tabs below. ROGA Reg 1 Reg 32 Reg 13 Complete this question by entering your answers in the tabs below. int Reqa Req B1 Reg B2 Reg 83 Compute the cost of goods sold and ending Inventory, assuming (1) FIFO cost flow, (2) LIF average cost flow. (Do not round Intermediate calculations. Round your answers to neares FIFO LIFO Weighted Average Cost of goods sold Ending Inventory $ 33,310 $ 34,963 $ 17,1707 $ 15,470 RQA Req B1 >