Mist, Inc. uses a PERIODIC inventory system and has the following transactions for one of its inventory items during 2020: Beginning Inventory 129 units @ $47 per unit Purchases Purchase 1 on 3/11/20 54 units @ $49 per unit Purchase 2 on 10/18/20 92 units @ $50 per unit Sales Sale 1 on 3/15/20 120 units @ $70 per unit Sale 2 on 10/22/20 105 units @ $70 per unit All units sold on 3/15/20 were from beginning inventory. The 10/22/20 sale included 40 units from the 3/11/20 purchase and 65 units from the 10/18/20 purchase. Show how Mist's Balance Sheet and Income Statement would differ under each of the inventory cost flow assumptions. Compute Ending Inventory, COGS and Gross Profit under Specific Identification, Weighted Average Cost, FIFO and LIFO. Fill in your answers on the table.

Mist, Inc. uses a PERIODIC inventory system and has the following transactions for one of its inventory items during 2020: Beginning Inventory 129 units @ $47 per unit Purchases Purchase 1 on 3/11/20 54 units @ $49 per unit @ $50 per unit Purchase 2 on 10/18/20 92 units Sales Sale 1 on 3/15/20 120 units @ $70 per unit Sale 2 on 10/22/20 105 units @ $70 per unit All units sold on 3/15/20 were from beginning inventory. The 10/22/20 sale included 40 units from the 3/11/20 purchase and 65 units from the 10/18/20 purchase. Show how Mist's Balance Sheet and Income Statement would differ under each of the inventory cost flow assumptions. Compute Ending Inventory, COGS and Gross Profit under Specific Identification, Weighted Average Cost, FIFO and LIFO. Fill in your answers on the table. Weighted Specific First-In, Last-In, Average Cost Identification First-Out First-Out (round to 2 decimal)