Problem 6-6A (Part Level Submission) You are provided with the following information for Wildhorse Co. Wildhorse Co. uses the periodic system of accounting for its inventory transactions. March 1 Beginning inventory 2,025 liters at a cost of 58 per liter. March 3 Purchased 2,455 liters at a cost of 63 per liter. March 5 Sold 2,370 liters for $1.05 per liter. March 10 Purchased 4,070 liters at a cost of 70 per liter. March 20 Purchased 2,490 liters at a cost of 78 per liter. March 30 Sold 5,175 liters for $1.35 per liter. (a1) * Your answer is incorrect. 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. 125.25.) (1) Specific identification method assuming: (i) The March 5 sale consisted of 1,000 liters from the March 1 beginning inventory and 1,370 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: 415 liters from March 1; 590 liters from March 3; 2,900 liters from March 10; 1,270 liters from March 20. (2) FIFO (3) LIFO Ending Inventory X Specific identification 2404.75 X FIFO 276965 X LIFO 2269.25 (a2) Your answer is partially correct. Try again. Prepare partial income statements 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 1,370 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: 415 liters from March 1; 590 liters from March 3; 2,900 liters from March 10; 1,270 liters from March 20. (2) FIFO (3) LIFO Wildhorse Co. Income Statement (partial) For the Month Ended March 31, 2019 v Specific Identification FIFO LIFO Sales revenue 7545 7545 7545 x x x Beginning inventory 2025 2025 2025 x X Purchases 7545 7545 7545 Cost of goods available for sale v 7545 7545 7545 Ending inventory 7545 7545 7545 poll X Cost of goods sold x Gross profit / (Loss)