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How do you solve this question? I need this done before 6pm. Problem 6-6A (Part Level Submission) You are provided with the following information for
How do you solve this question? I need this done before 6pm.
Problem 6-6A (Part Level Submission) You are provided with the following information for Barton Inc. Barton Inc. uses the periodic method of accounting for its inventory transactions. March 1 Beginning inventory 1,930 liters at a cost of 60 per liter. March 3 Purchased 2,540 liters at a cost of 65 per liter. March 5 Sold 2.235 liters for1.OS per liter. March 10 Purchased 4,190 liters at a cost of 704 per liter March 20 Purchased 2,500 liters at a cost of 78 per liter. March 30 Sold S,275 liters for $1.33 per liter. (al) Calculate the value of ending inventory that would be reported on the balance sheet, under each of the following cost flow methods. (Round answers to 0 decimal places, e.g. 1250.) (1) Specific identification method assuming liters from (i) The March S sale consisted of 1,000 liters from the March 1 beginning inventory and 1,23S the March 3 purchase; and (ii) The March 30 sale consisted of the following number of units sold from beginning inventory and each purchase: 445 liters from March 1; 535 liters from March 3; 2,890 liters from March 10; and 1,405 liters from March 20. (2) FIFO (3) LIFO Specific identification FIFO LIFOStep by Step Solution
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