You have the following information for Sunland Inc. Sunland Inc. uses the periodic method of accounting for its inventory transactions.

March		1		Beginning inventory 2,000 liters at a cost of 70 per liter.
March		3		Purchased 2,500 liters at a cost of 74 per liter.
March		5		Sold 2,300 liters for $1.05 per liter.
March		10		Purchased 4,000 liters at a cost of 81 per liter.
March		20		Purchased 2,500 liters at a cost of 89 per liter.
March		30		Sold 5,200 liters for $1.25 per liter.

Thank you!

(21) 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, eg. 125.50.) (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 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 Ending inventory Specific identification $ FIFO $ LIFO eTextbook and Media Save for Later Attempts: 0 of 5 used Submit Answer (22) Prepare partial income statements for 2022 through gross profit, under each of the following cost flow assumptions. (Round answers to 2 decimal places, eg. 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 SUNLANDINC. Income Statement (partial) Specific Identification FIFO LIFO $ $