Prepare partial income statements for 2022 through gross profit, under each of the following cost flow assumptions. (Round answers to 2 decimal places, e.g. 125.25.) (1} Specificidentification method assuming: (i} 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 (ii) 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: 2,200 liters from March 10; 1,200 liters from March 20. (2) FIFO (3) LIFO \fYou have the following information for Bonita Inc. Bonita Inc. uses the periodic method of accounting for its inventory transactions. March 1 Beginning inventory 2,100 liters at a cost of 70 per liter. March 3 Purchased 2,500 liters at a cost of 744 per liter. March 5 Sold 2,300 liters for $1.05 per liter. March 10 Purchased 4,000 liters at a cost of 81 per liter. March 20 Purchased 2,400 liters at a cost of 89 per liter. March 30 Sold 5,100 liters for $1.25 per liter. 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 places, e.g. 125.50.) (1) Specificidentification method assuming: (i) 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 (ii} 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; 2,900 liters from March 10: 1,200 liters from March 20. (2) FIFO (3) LIFO Ending inventory Specific identification $ LIFO $ 900 eTextbook and Media The management of Lily Inc. is reevaluating the appropriateness of using its present inventory cost flow method, which is average- cost. The company requests your help in determining the results of operations for 2022 if either the FIFO or the LIFO method had been used. For 2022, the accounting records show these data: Inventories Purchases and Sales Beginning (4,000 units) $16,000 Total net sales (182,000 units) $1,119,300 Ending (12,000 units) Total cost of goods purchased (190,000 units) 846,000 Purchases were made quarterly as follows. Quarter Units Unit Cost Total Cost 1 50,000 $4.20 $210,000 2 40,000 4.35 174,000 3 40,000 4.50 180,000 4 60,000 470 282,000 190,000 $846,000 Operating expenses were $130,000, and the company's income tax rate is 40%.