The accounting records of Carrols Lamp shop reflected the following balances as of January 1, 2014. Cash $19,900 Beginning 19,995 (215 units $93) Common stock 14,700 Retained earnings 25,195 The following five transactions occurred in 2014 1. First purchase (cash) 120 units $95 2. Second purchase (cash) 195 units $103 3. (all cash) 365 units $192 4. Paid $13.750 cash for salaries expense. 5. Paid 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 flow (Do not round intermediate calculations and round your answers to nearest whole dollar amount.) Weighted FIFO LIFO Average Cost of goods sold Ending inventory b 1. Use a vertical model to prepare the 2014 income statement under FIFO LFO and week Two Declan. docr