Mist Company uses a PERIODIC inventory system. Mist had the following inventory purchases and sales during 2021:

2021 Beginning Inventory (purchased in 2020) Purchases:		60 units @ $20 per unit
Purchase 1 on 3/8/21		140 units @ $28 per unit
Purchase 2 on 8/5/21		50 units @ $32 per unit
Sales:
Sale 1 on 5/8/21		80 units @ $90 per unit
Sale 2 on 9/13/21		125 units @ $90 per unit

Of the items sold on 5/8/2021, 60 units were from the beginning inventory and 20 units were from 3/8/21 purchase. The 9/13/21 sale included 85 units from the 3/8/21 purchase and 40 units from the 8/5/21 purchase.

Show how Mist's Balance Sheet and Income Statement would look under each of the inventory cost flow assumptions. Compute Ending Inventory, Sales, COGS, and Gross Profit under Specific Identification, Weighted Average Cost, FIFO and LIFO. Fill in your answers on the table below. SHOW YOUR WORK. Round per unit cost to the nearest cent.

		Specific Identification		Weighted Average		FIFO		LIFO
12/31/21 Balance Sheet
Inventory
2021 Income Statement
Sales
Cost of Goods Sold
Gross Profit