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Problem 6-6A (Part Level Submission) You are provided with the following information for Barton Inc. Barton Inc. uses the periodic method of accounting for its
Problem 6-6A (Part Level Submission) You are provided with the following information for Barton Inc. Barton Inc. uses the periodic method of accounting for its inventory transactions. March 1 Beginning inventory 1,940 liters at a cost of 61 per liter March 3 Purchased 2,515 liters at a cost of 664 per liter. March 5 Sold 2,230 liters for $1.10 per liter. March 10 Purchased 3,935 liters at a cost of 74 per liter March 20 Purchased 2,460 liters at a cost of 824 per liter. March 30 Sold 5,110 liters for $1.36 per liter. (al) 2 Your answer is partially correct. Try again. Calculate the value o ending nventory that would be reported on the balance sheet, under each of the ollowing cost flow methods rRound answers t (1) Specific identification method assuming O dec mal places, e125 (i) The March 5 sale consisted of 1,000 liters from the March 1 beginning inventory and 1,230 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: 490 liters from March 1; 510 liters from March 3; 2,845 liters from March 10; and 1,265 liters from March 20. (2) FIFO (3) LIFO Ending inventory Specific identification 2573 FIFO 2794 LIFO 4237
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