LUS eveandt, Accounting Principles, 13e ECES 21 Problem 6-06A al-a2 (Part Level Submission) You are provided with the following information for Crane Inc. Crane Inc. uses the periodic method of accounting for its inventory transactions. March 1 Beginning inventory 2,000 liters at a cost of 60$ per liter. March 3 Purchased 2,500 liters at a cost of 64 per liter. March 5 Sold 2,300 liters for $1.05 per liter. March 10 Purchased 4,000 liters at a cost of 71 per liter. March 20 Purchased 2,200 liters at a cost of 790 per liter. March 30 Sold 5,000 liters for $1.25 per liter. (al) Calculate the value of ending inventory that would be reported on the balance sheet, under each of the following cost flow assumptions. (Round answers to 2 decimal plac (1) Specific identification method assuming: The March 5 sale consisted of 1,000 liters from the March 1 beginning inventory and 1,300 liters from the March 3 purchase; and () The March 30 sale consisted of the following number of units sold from beginning inventory and each purchase: 450 liters from March 1; 550 liters from March 3; 2,90 (2) FIFO (3) LIFO y Study Ending inventory Specific identification FIFO UFO Click if you would like to show Work for this question: Open Show Work LINK TO TEXT CALGATO abmission) mation for Crane Inc. Crane Inc. uses the periode method of accounting for its inventory transactions er at a cost of 600 per liter st of 64 per liter liter. ost of 714 per te st of 79 per te that would be reported on the balance sheet, under each of the following cost flow assumptions. (Round answers to 2 decimal places, c.g. 125.50.) ,000 liters from the March 1 beginning inventory and 1,300 liters from the March 3 purchase and the following number of units sold from beginning inventory and each purchase: 450 liters from March 1: 550 liters from March 3: 2.900 liters from March 10; 1,100 liters from March 20. Hory k for this question Show Work Attempts: 0 of Sused