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The accounting records of Wall's China Shop reflected the following balances as of January 1, Year 2. Cash $ 19,100 Beginning inventory 12,615 (145 units

The accounting records of Wall's China Shop reflected the following balances as of January 1, Year 2. Cash $ 19,100 Beginning inventory 12,615 (145 units @ $87) Common stock 14,100 Retained earnings 17,615 The following five transactions occurred in Year 2: First purchase (cash): 125 units @ $89 Second purchase (cash): 200 units @ $97 Sales (all cash): 425 units @ $199 Paid $14,150 cash for salaries expenses Paid cash for income tax at the rate of 40 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

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