Spring Toy Company sells musical pogo sticks to retail stores. At the beginning of the month Spring Toy had 750 pogo sticks in inventory that cost $3 each. They sold 1,640 pogo sticks for $54 each. Their effective tax rate is 40%. Given the following information, prepare Spring Toy's Cost of Goods Sold Statement using the LIFO method? How much would Spring Toy's cash flow change if they used the Weighted Average method for inventory? How much would Spring Toy's beginning inventory change if they used the Weighted Average method for inventory?

Purchases	Quantities and Cost per pogo stick
1st purchase	800 at $2.90 each
2nd purchase	300 at $2.60 each