The accounting records of Wall's China Shop reflected the following balances as of January 1 , The following five transactions occurred in Year 3: 1. First purchase (cash): 120 units @ $89 2. Second purchase (cash): 200 units @ $97 3. Sales (all cash): 355 units @$198 4. Paid $16,900 cash for salaries expense 5. 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 flow. Compute the income tax expense for each method. b-1. Use a vertical model to show the Year 3 income statement under FIFO, LIFO, and weighte under an accounting equation before preparing the statements.) b-2. Use a vertical model to show the Year 3 balance sheet under FIFO, LIFO, and weighted av an accounting equation before preparing the statements.) b-3. Use a vertical model to show the Year 3 statement of cash flows under FIFO, LIFO, and we events under an accounting equation before preparing the statements.) Complete this question by entering your answers in the tabs below. Use a vertical model to show the Year 3 balance sheet under FIFO, LIFO, and weighted average. under an accounting equation before preparing the statements.) Note: Do not round intermediate calculations. Round your answers to nearest whole dollar amoun The accounting records of Wall's China Shop reflected the following balances as of January 1 , The following five transactions occurred in Year 3: 1. First purchase (cash): 120 units @ $89 2. Second purchase (cash): 200 units @ $97 3. Sales (all cash): 355 units @$198 4. Paid $16,900 cash for salaries expense 5. 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 flow. Compute the income tax expense for each method. b-1. Use a vertical model to show the Year 3 income statement under FIFO, LIFO, and weighte under an accounting equation before preparing the statements.) b-2. Use a vertical model to show the Year 3 balance sheet under FIFO, LIFO, and weighted av an accounting equation before preparing the statements.) b-3. Use a vertical model to show the Year 3 statement of cash flows under FIFO, LIFO, and we events under an accounting equation before preparing the statements.) Complete this question by entering your answers in the tabs below. Use a vertical model to show the Year 3 balance sheet under FIFO, LIFO, and weighted average. under an accounting equation before preparing the statements.) Note: Do not round intermediate calculations. Round your answers to nearest whole dollar amoun