The accounting records of Wall's China Shop reflected the following balances as of January $1,$ Year $2.$Cash$ $18900$ Beginning inventory $13,760(160$ units @ $$86)$ Common stock $14,400$ Retained earnings $18,260$The following five transactions occurred in Year $2$:First purchase $($cash$)$: $115$ units @ $$88$Second purchase $($cash$)$: $195$ units @ $$96$Sales $($all cash$)$: $420$ units @ $$190$Paid $$15,600$ cash for salaries expensePaid cash for income tax at the rate of $40$ percent of income before taxesRequireda.$$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$.$Record the above transactions in general journal form and post to T$-$accounts assuming each of the cost flows listed. Assume perpetual inventory system is used$\mathrm{.}1.$ FIFO$2.$ LIFO$3.$ Weighted Averagec.$$Use a vertical model to show the Year $2$ income statement, balance sheet, and statement of cash flows under FIFO, LIFO, and weighted average