The accounting records of Wall$$s China Shop reflected the following balances as of January $1,$ Year $2$:

Cash $$16,600$

Beginning inventory $18,490(215$ units @ $$86)$

Common stock $14,200$

Retained earnings

$20,890$

The following five transactions occurred in Year $2$:

First purchase $($cash$)115$ units @ $$88$

Second purchase $($cash$)195$ units @ $$96$

Sales $($all cash$)360$ units @ $$197$

Paid $$15,750$ cash for salaries expense.

Paid cash for income tax at the rate of $25$ percent of income before taxes.

Required

Compute the cost of goods sold and ending inventory, assuming

$(1)$ FIFO cost flow

$(2)$ LIFO cost flow and

$(3)$ weighted$-$average cost flow

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.$)$