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

March		1		Beginning inventory 2,200 liters at a cost of 60 per liter.
March		3		Purchased 2,500 liters at a cost of 70 per liter.
March		5		Sold 2,300 liters for $1.05 per liter.
March		10		Purchased 4,000 liters at a cost of 77 per liter.
March		20		Purchased 2,400 liters at a cost of 85 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)	FIFO
(3)	LIFO

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; 1,100 liters from March 20.
(2)	FIFO
(3)	LIFO

ORIOLE INC. Income Statement (partial) For the Year Ended December 31, 2020 Specific Identification FIFO LIFO > Sales revenue 8665 8665 8665 $ $ Beginning inventory 1320 1320 1320 Purchases 6870 6870 6870 Cost of goods available for sale 8190 8190 8190 Ending inventory 2857 3118 X H Cost of goods sold 5333 5072 X Gross profit/ (Loss) 3332 $