You are provided with the following information for ABC Inc. uses the periodic method of accounting for its inventory transactions.

March 1 Beginning inventory 2,000 liters at a cost of 60 per liter.

March 3 Purchased 2,500 liters at a cost of 64 per liter.

March 5 Sold 2,300 liters for $1.05 per liter.

March 10 Purchased 4,000 liters at a cost of 71 per liter.

March 20 Purchased 2,200 liters at a cost of 79 per liter.

March 30 Sold 5,000 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. 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; 1,100 liters from March 20.

2. LIFO
3. FIFO

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.)

4- 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; 1,100 liters from March 20.

5- FIFO

6- LIFO

I have SIX question. Please help me for all. Calculate the value of ending inventory that would be reported on the balance sheet AND Prepare partial income statements for 2020 through gross profit.

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: (1) 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 cach purchase: 450 liters from March 1; 550 liters from March 3; 2,900 liters from March 10; 1,100 liters from March 20. (2) FIFO (3) LIFO CRANE INC. Income Statement (partial) For the Year Ended December 31, 2020 Specific Identification FIFO LIFO Sales revenue $ Beginning inventory x Purchases Cost of goods available for sale Ending inventory Cost of goods sold Gross pront/ (Loss)