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

Cash	$ 17,600
Beginning inventory	13,350	(150 units @ $89)
Common stock	14,300
Retained earnings	16,650

The following five transactions occurred in Year 2:

First purchase (cash): 125 units @ $91

Second purchase (cash): 205 units @ $99

Sales (all cash): 440 units @ $194

Paid $15,500 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 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. 1. FIFO 2. LIFO 3. Weighted Average c. Use a vertical model to show the Year 2 income statement, balance sheet, and statement of cash flows under FIFO, LIFO, and weighted average.