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su are viewing Attempt 1 You are provided with the following information for accounting for...

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Accounting

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su are viewing Attempt 1 You are provided with the following information for accounting for its inventory transactions. Inc. uses the periodic system of March 1 Beginning inventory 1.915 liters at a cost of 62 per liter. March 3 Purchased 2,415 liters at a cost of 674 per liter. March 5 Sold 2,275 liters for $1.00 per liter. March 10 Purchased 3,995 liters at a cost of 74 per liter. March 20 Purchased 2,420 liters at a cost of 82 per liter. March 30 Sold 5,215 liters for $1.25 per liter. (1) X Your answer is incorrect. Calculate the value of ending inventory that would be reported on the balance sheet under following cost flow assumptions. (Round answers to 2 decimal places, e.g. 125.25.) (1) Specific identification method assuming: 6) The March 5 sale consisted of 1,000 liters from the March 1 beginning inventory and 1,275 liter from the March 3 purchase; and (1) The March 30 sale consisted of the following number of units sold from beginning inventory and each purchase: 420 liters from March 1:570 liters from March 3: 2.900 liters from March 10: 1,325 liters from March 20. (2) FIFO (3) LIFO LG

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