Problem 6-06A a1-a2 You are provided with the following information for Bramble Inc. Bramble Inc. uses the periodic method of accounting for its inventory transactions. March 1 Beginning inventory 2,100 liters at a cost of 800 per liter. March 3 Purchased 2,500 liters at a cost of 824 per liter. March 5 Sold 2,300 liters for $1.05 per liter. March 10 Purchased 4,000 liters at a cost of 89 per liter. March 20 Purchased 2,500 liters at a cost of 97 per liter. March 30 Sold 5,100 liters for $1.25 per liter. Your answer is partially correct. Try again. 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) Specific Identification 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 (11) 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 3293 FIFO 3493 LIFO 3090 Your answer is partially correct. Try again. Prepare partial Income statements for 2020 through gross profit, under each of the following cost flow assumptions. (Round answers to 2 decimal places, e.g. 125.25.) (1) Specific Identification 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 BRAMBLE INC. Income Statement (partial) For the Year Ended December 31, 2020 Specific Identification FIFO Sales revenue Beginning Inventory T 1680 Purchases Cost of goods available for sale Ending inventory Cost of goods sold TGross profit / (Loss) Click if you would like to show Work for this question: Open Show Work