You have the following information for Swifty Inc. Swifty Inc. uses the periodic method of accounting for its inventory transactions. March 1 Beginning inventory 2,200 liters at a cost of 50 per liter. March 3 Purchased 2,500 liters at a cost of 54 per liter. March 5 Sold 2,300 liters for $1.05 per liter. March 10 Purchased 4,000 liters at a cost of 61 per liter. March 20 Purchased 2,400 liters at a cost of 69 per liter. March 30 Sold 5,200 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; 1,300 liters from March 20. (2) FIFO (3) LIFO Ending inventory Specific identification $ 2156 FIFO $ 2388 LIFO $ 1856 e Textbook and Media 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; 1,300 liters from March 20. (2) FIFO (3) LIFO SWIFTYINC. Income Statement (partial) For the Year Ended December 31, 2022 Specific Identification FIFO LIFO Sales revenue ta $ $ $ Beginning inventory > Purchases > Cost of goods available for sale Ending inventory > Cost of goods sold > Gross profit/(Loss) $ $ $