what would cash out flowflow for inventory be on this problem? The accounting records of Wall$$s China Shop reflected the following balances as of January $1,$ Year $2$:

Cash $

$17$

Beginning inventory $19,740(210$ units @ $$94)$

Common stock $15,800$

Retained earnings

$21,440$

The following five transactions occurred in Year $2$:

First purchase $($cash$)120$ units @ $$96$

Second purchase $($cash$)205$ units @ $$104$

Sales $($all cash$)360$ units @ $$195$

Paid $$14,900$ cash for salaries expense

Paid cash for income tax at the rate of $25$ percent of income before taxes

Required

Compute the cost of goods sold and ending inventory, assuming $(1)$ FIFO cost flow, $(2)$ LIFO cost flow, and $(3)$ weighted$-$average cost flow.

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.$)$