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Double check answers (a2) Prepare partial income statements through gross profit, under each of the following cost flow methods. (Round answers to O decimal places,
Double check answers
(a2) Prepare partial income statements through gross profit, under each of the following cost flow methods. (Round answers to O decimal places, e.g. 1250.) (1) Specific identification method assuming: (i) The March 5 sale consisted of 1,000 liters from the March 1 beginning inventory and 1,230 liters from the March 3 purchase; and (ii) The March 30 sale consisted of the following number of units sold from beginning inventory and each purchase: 490 liters from March 1; 510 liters from March 3; 2,845 liters from March 10; and 1,265 liters from March 20. (2) FIFO (3) LIFO BARTON Inc. Income Statement (partial) For the Year Ended December 31, 2015 Specific Identification FIFO LIFO (a2) Prepare partial income statements through gross profit, under each of the following cost flow methods. (Round answers to O decimal places, e.g. 1250.) (1) Specific identification method assuming: (i) The March 5 sale consisted of 1,000 liters from the March 1 beginning inventory and 1,230 liters from the March 3 purchase; and (ii) The March 30 sale consisted of the following number of units sold from beginning inventory and each purchase: 490 liters from March 1; 510 liters from March 3; 2,845 liters from March 10; and 1,265 liters from March 20. (2) FIFO (3) LIFO BARTON Inc. Income Statement (partial) For the Year Ended December 31, 2015 Specific Identification FIFO LIFOStep by Step Solution
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