You have the following information for Swifty Inc. Swifty Inc uses the periodic method of accounting for its inventory transactions. March 1 March 3 March 5 Beginning inventory 2,200 liters at a cost of 70 per liter. Purchased 2,500 liters at a cost of 74 per liter. Sold 2.300 liters for $1.05 per liter Purchased 4,000 liters at a cost of 810 per liter. Purchased 2,300 liters at a cost of 89 per liter. Sold 5.200 liters for $1.25 per liter. March 10 March 20 March 30 (a1) Your answer is correct 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, s. 125.50) Your answer is correct. 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 (0) 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 (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 $ 2787 FIFO 3019 LIFO 2502 Prepare partial income statements for 2022 through gross proft, under each of the following cost flow assumptions. (Round answers to 2 decimal places, eg. 125.25.) (1) Specific identification method assuming 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 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 (partiat) For the Year Ended December 31, 2022 Specific Identification FIFO LIFO 8915 venue $ 1955 inventory 1540 1540 SWIFTYINC. Income Statement (partial) For the Year Ended December 31, 2022 Specific Identification FIFO LIFO evenue 8915 8915 ling inventory 15401 1540 ses 1540 1540 f goods available for sale 7137 7137 Inventory 8677 8677 goods sold 3019 2502 proht/(Loss) 5658 6175