The following five transactions occurred in 2012:
1. First purchase (cash) 120 units @ $92
2. Second purchase (cash) 200 units @ $100
3. Sales (all cash) 300 units @ $185
4. Paid $15,000 cash for operating expenses.
5. 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.