PLEASE DO ALL SECTIONS WITU WORK SHOWN, WILL GIVE A THIMBS UP IF DONE RIGHT.... Asian Imports provided the following information regarding its inventory for the current year, its second year of operations.

$($Click the icon to view the information.$)$

Asian Imports has computed its ending inventory and cost of goods sold under the Moving$-$average, FIFO, and LIFO cost methods. Asian Imports uses a perpetual inventory system. E $($Click the icon to view the Moving$-$average perpetual record.$)EE($Click the icon to view the FIFO perpetual record.$)$

E $($Click the icon to view the LIFO perpetual record.$)$

Read the requirement.

Requirement a$.$ Prepare a partial income statement up to the cost of goods sold section for each of the three cost$-$flow assumptions $($moving$-$average, FIFO, and LIFO methods$).$

Select the labels and enter the amounts to complete the partial income statements under each cost$-$flow assumption.

Asian Imports

Partial Income Statement

For the Year Ended

Requirement

For each of the three cost$-$flow assumptions $($moving$-$average, FIFO, and LIFO methods$)$:

a$.$ Prepare a partial income statement up to the cost of goods sold section.

b$.$ Compute the gross profit percentage.

c$.$ Comment on the ranking of the gross profit percentages.

Data table

$\backslash$table$[[$Transaction$,$Units,$\backslash$table$[[$Sales in$],[$Units$]],$Unit Cost,$$,\backslash$table$[[$Total$],[$Cost$],[136,000]]],[$Beginning inventory January $1,34,000,,4\mathrm{.}00],[$Purchases$],[$February $8,45,000,,4$:$10,,184,500],[$March $15,99,000,,4\mathrm{.}40,,435,600],[$April $10,59,000,,4\mathrm{.}70,,277,300],[$Subtotal$,237,000,,,$s$,1,033,400$