The accounting records of Wall$$s China Shop reflected the following balances as of January $1,$ Year $3$:

Cash $ $19,400$

Beginning inventory $17,000(200$ @ $$85)$

Common stock $14,500$

Retained earnings $21,900$

The following five transactions occurred in Year $3$:

First purchase $($cash$)$: $120$ units @ $$87$

Second purchase $($cash$)$: $195$ units @ $$95$

Sales $($all cash$)$: $350$ units @ $$194$

Paid $$16,400$ cash for salaries expense

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. Compute the income tax expense for each method.

b$-1.$ Use a vertical model to show the Year $3$ income statement under FIFO, LIFO, and weighted average. $($Hint: Record the events under 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 statements.$)$

b$-3.$ Use a vertical model to show the Year $3$ statement of cash flows under FIFO, LIFO, and weighted average. $($Hint: Record the events under an accounting equation before preparing the statements.$)$