The accounting records of Wall's China Shop reflected the following balances as of January 1, Year 3: The following five transactions occurred in Year 3 : 1. First purchase (cash): 125 units et $88 2. Second purchase (cash): 200 units 9$96 3. Sales (all cash): 370 units $199 4. Paid $14,000 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. Compute the income tax expense for eacb 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.) Complete this question by entering your answers in the tabs below. Compute the cost of goods sold and ending inventory, assuming (1) FIFO cost flow, (2) LIFO cost flow, and (3) weightedaverage cost flow. Compute the income tax expense for each method. Note: Do not round intermediate calculations. Round your answers to nearest whole dollar amount. Complete this question by entering your answers in the tabs below. 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.) Note: Do not round intermediate calculations. Round your answers to nearest whole dollar amount. Complete this question by entering your answers in the tabs below. 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.) Note: Do not round intermediate calculations. Round your answers to nearest whole doliar amount. Complete this question by entering your answers in the tabs below. 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.) Note: Do not round intermediate calculations. Round your answers to nearest whole dollar amount. Cash outflows should be indicated by a minus sign