The accounting records of Wails china Shop refiected the following balances as of January 1. Year 3 : The following five yansactons occurred in year 3 . 1. First purchase (cash) 125 units 9$94 2. Second purchase (cosh) 200 units i $102 3. Sales (ail cash): 360 units a $192 4. Paid $15.200 cash for satartes expense 5. Pald cash for income tax at the rate of 25 percent of income before taxes Required 0. Compute the cost of goods sold and ending inventory, assuming (1) FiFO cost flow, (2) /iFO cost flow, and (3) weighted-average cost flow. Compute the income tax expense for each method. b-1. Use a vertical model to show the Year 3 income statement ynder FIFO, LIFO, and welghted average. (Hint Record the events uncer an accounting equation before preparing the statements) b-2. Use a vertical model to show the Year 3 balance sheet under FiFO. LiFO. and weighted average. (Hint Record the events under an accounting equation before preparing the statementsi b.3. Use a verticai model to show the Yeat 3 statement of cash flows under FIFO, LIFO, and weighted average. (Hint. Record the events under an accounting equation before preparing the statements: Complete this question by entering your answers in the tabs below. Use a vertical model to thiow the year 3 income statement under FiFO, Hfo, and weighted average. (Hint: Record the events under an ocoounting equation before prepaning the statements.) Note: po not round intermediate colculations, Round your answers to nearest whole dollar amount. Use a vertical model to show the Year 3 balance sheet under FIFO, LIFO, and weighted average. (Hint: Record the events under an accounting equation before prepaning the statements.) Note: Do not round intermediate calculations. Round your answers to nearest whole dollar amount. Use a vertical model to show the Year 3 statement of cash flows under FIFO, UFO, and weighted average. (Hint: Record the events under an accounting equation before preparing the statements.) Note: Do not round intermediate calculations. Round your answers to nearest whole dollar amount. Cash outflows should be indicated by a minus sign