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

$1$st purchase $800$ at $$2\mathrm{.}90$ each

$2nd$ purchase $,300$ at $$2\mathrm{.}60$ each