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

The following five transactions occurred in Year $2$:

First purchase $($cash$)120$ units @ $$89$

Second purchase $($cash$)200$ units @$$97$

Sales $($all cash$)370$ units @ $$188$

Paid $$14,350$ 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

b$.$ 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.$)$