Wlq Company began business on the first day of 2019. The following are the Company's purchases of inventory: Date March 17 Inventory Items Item A Item B Item C May 19 Quantity 100 units 50 units 100 units Cost per unit $10 $12 $13 Nov 14 On October 20, 2019, 115 units were sold, for $35 cach, leaving inventory of 135 units. The tax rate for 2019 was 25%. The Company has n other operating expenses and uses a periodic inventory_system. Required: Please choose the best answer to the following questions based on the above information. Suppose the Company uses LIFO for inventory valuation. What is the balance of the inventory account on December 31, 2019? O $1720 O $1420 O $1350 O $1620 Suppose the Company uses FIFO for inventory valuation. What is the net income for 2019? O $2133.75 O $2845 O $1908.75 O $1983.75 Suppose the Company uses LIFO for inventory valuation and a perpetual Inventory system. What is the gross profit for 2019? O $2545 O $2775 O $2845 O $2645