You are provided with the following information for Sheffield Inc. Sheffield 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 62 per liter.
March		5		Sold 2,300 liters for $1.05 per liter.
March		10		Purchased 4,000 liters at a cost of 69 per liter.
March		20		Purchased 2,300 liters at a cost of 77 per liter.
March		30		Sold 5,200 liters for $1.25 per liter.

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; 1,300 liters from March 20. (2) FIFO (3) LIFO SHEFFIELD INC Income Statement (partial) Specific Identification FIFO LIFO