Current Attempt in Progress You have the following information for Bramble Inc. Bramble Inc. uses the periodic method of accounting for its inventory transactions. March 1 Beginning inventory 2,100 liters at a cost of 80 per liter. March 3 Purchased 2,500 liters at a cost of 82d per liter. March 5 Sold 2,300 liters for $1.05 per liter. March 10 Purchased 4,000 liters at a cost of 89d per liter. March 20 Purchased 2,500 liters at a cost of 97d per liter. March 30 Sold 5,100 liters for $1.25 per liter. 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; 1,200 liters from March 20. (2) FIFO
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