March1 Beginning inventory 1,945 liters at a cost of 62 per liter.

March3 Purchased 2,415 liters at a cost of 70 per liter.

March5Sold 2,290 liters for $1.03 per liter.

March10Purchased 4,050 liters at a cost of 78 per liter.

March20Purchased 2,435 liters at a cost of 83 per liter.

March30Sold 5,290 liters for $1.33 per liter.

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:
	(i)	The March 5 sale consisted of 1,000 liters from the March 1 beginning inventory and 1,290 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; 535 liters from March 3; 2,860 liters from March 10; and 1,405 liters from March 20.
(2)	FIFO
(3)	LIFO Specification identification: FIFO: LIFO:

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 1,945 liters at a cost of 62 per liter. March 3 Purchased 2,415 liters at a cost of 70c per liter. March 5 Sold 2,290 liters for $1.03 per liter March 10 Purchased 4,050 liters at a cost of 78c per liter March 20 Purchased 2,435 liters at a cost of 83c per liter. March 30 Sold 5,290 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 (i) The March 5 sale consisted of 1,000 liters from the March 1 beginning inventory and 1,290 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: 535 liters from March 3; 2,860 liters from March 10; and 1,405 liters from March 20 (2) FIFO (3) LIFO ng Specific identification FIFO LIFO