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

Cash	$	19,200
Beginning inventory		18,920		(215 units @ $88)
Common stock		14,000
Retained earnings		24,120

The following five transactions occurred in Year 2:

1. First purchase (cash) 125 units @ $90
2. Second purchase (cash) 200 units @ $98
3. Sales (all cash) 370 units @ $186
4. Paid $14,400 cash for salaries expense
5. Paid cash for income tax at the rate of 25 percent of income before taxes

REQ 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. (Do not round intermediate calculations. Round your answers to nearest whole dollar amount.)

	FIFO	LIFO	Weighted Average
Cost of goods sold
Ending inventory

REQ B

Use a vertical model to show the Year 2 income statement under FIFO, LIFO, and weighted average. (Do not round intermediate calculations. Round your answers to nearest whole dollar amount.)

WALL'S CHINA SHOP
Income Statements
For the Year Ended December 31, Year 2
	FIFO	LIFO	Weighted Average
Salaries expense
Income before tax	0	0	0

REQ B2

Use a vertical model to show the Year 2 balance sheet under FIFO, LIFO, and weighted average. (Do not round intermediate calculations. Round your answers to nearest whole dollar amount.)

WALL'S CHINA SHOP
Balance Sheets
As of December 31, Year 2
	FIFO	LIFO	Weighted Average
Assets
Total assets	$0	$0	$0
Stockholders' equity
Total stockholders' equity	$0	$0	$0

REQ B3

Use a vertical model to show the Year 2 statement of cash flows under FIFO, LIFO, and weighted average. (Do not round intermediate calculations. Round your answers to nearest whole dollar amount. Cash outflows should be indicated with a minus sign.)

WALL'S CHINA SHOP
Statements of Cash Flows
For the Year Ended December 31, Year 2
	FIFO	LIFO	Weighted Average
Cash flows from operating activities
Net cash flows from operating activities	0	0	0
Cash flows from investing activities
Cash flows from financing activities
Net change in cash	0	0	0
Ending cash balance	$0	$0	$0