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

		Ending inventory
Specific identification		$
FIFO		$
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) December 31, 2020For the Month Ended December 31, 2020For the Year Ended December 31, 2020
		Specific Identification		FIFO		LIFO
Cost of goods soldGross profit / (Loss)Ending inventorySales revenueBeginning inventoryPurchasesCost of goods available for sale		$		$		$
Cost of goods available for saleEnding inventoryCost of goods soldGross profit / (Loss)Beginning inventoryPurchasesSales revenue
Cost of goods available for saleEnding inventoryCost of goods soldGross profit / (Loss)Beginning inventoryPurchasesSales revenue
Beginning inventorySales revenuePurchasesCost of goods available for saleCost of goods soldEnding inventoryGross profit / (Loss)
Ending inventoryCost of goods soldGross profit / (Loss)Cost of goods available for salePurchasesSales revenueBeginning inventory
Cost of goods available for saleCost of goods soldSales revenueEnding inventoryGross profit / (Loss)Beginning inventoryPurchases
PurchasesBeginning inventoryCost of goods available for saleEnding inventoryGross profit / (Loss)Cost of goods soldSales revenue		$		$		$