You have 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.

(a1)

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		$enter a dollar amount
FIFO		$enter a dollar amount
LIFO		$enter a dollar amount

(a2)

Prepare partial income statements for 2022 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

ORIOLEINC. Income Statement (partial) choose the accounting period For the Month Ended December 31, 2022December 31, 2022For the Year Ended December 31, 2022
		Specific Identification		FIFO		LIFO
select an opening name for this statement Gross profit / (Loss)Cost of goods soldPurchasesSales revenueEnding inventoryCost of goods available for saleBeginning inventory		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount
select an income statement item Ending inventoryBeginning inventorySales revenueCost of goods soldGross profit / (Loss)PurchasesCost of goods available for sale		enter a dollar amount		enter a dollar amount		enter a dollar amount
select an income statement item Sales revenueGross profit / (Loss)Beginning inventoryCost of goods soldPurchasesCost of goods available for saleEnding inventory		enter a dollar amount		enter a dollar amount		enter a dollar amount
select a summarizing line for the first part PurchasesBeginning inventoryCost of goods available for saleCost of goods soldEnding inventorySales revenueGross profit / (Loss)		enter a total amount for the first part		enter a total amount for the first part		enter a total amount for the first part
select an income statement item Cost of goods available for salePurchasesGross profit / (Loss)Beginning inventoryEnding inventorySales revenueCost of goods sold		enter a dollar amount		enter a dollar amount		enter a dollar amount
select a summarizing line for the second part Cost of goods soldGross profit / (Loss)Cost of goods available for saleSales revenueEnding inventoryPurchasesBeginning inventory		enter a total amount for the second part		enter a total amount for the second part		enter a total amount for the second part
select a closing name for this statement Cost of goods soldEnding inventoryGross profit / (Loss)Sales revenuePurchasesCost of goods available for saleBeginning inventory		$enter a total amount for this statement		$enter a total amount for this statement		$enter a total amount for this statement