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CALCULATOR PRINTER VERSION BACK s Problem 6-06A al-a2 (Part Level Submission) You are provided with...

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Accounting

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CALCULATOR PRINTER VERSION BACK s Problem 6-06A al-a2 (Part Level Submission) You are provided with 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 600 per liter. March 3 Purchased 2,500 liters at a cost of 700 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 85t per liter March 30 Sold 5,000 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.. 125.50.) (1) Specific identification method assuming c) 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; 1,100 iters from March 20. (2) FIFO (3) LIFO Ending inventory Son identification FIFO UFO

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