The following five transactions occurred in Year 2: 1. First purchase (cash) 120 units @ $88 2. Second purchase (cash) 200 units @ $96 3. Sales (all cash) 365 units @$199 4. Paid $15,550 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 cost flow, and (3) weighted-average cost flow. b. Use a vertical model to show the Year 2 income statement, balance sheet, and statement of cash flows under FIFO, LIFO, and weighted average. (Hint: Record the events under an accounting equation before preparing the statements.) Jse a vertical model to show the Year 2 statement of cash flows under FIFO, LIFO, and weighted average. (Do not round ntermediate calculations. Round your answers to nearest whole dollar amount. Cash outflows should be indicated with a minus sign.)