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March 1 Beginning inventory 2,040 liters at a cost of 610 per liter. March 3 Purchased 2,460 liters at a cost of 660 per liter. March 5 Sold 2,380 liters for $1.10 per liter. March 10 Purchased 4,155 liters at a cost of 730 per liter. March 20 Purchased 2,545 liters at a cost of 814 per liter. March 30 Sold 5,100 liters for $1.30 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. 125.25.) (1) Specific identification method assuming: 0) The March 5 sale consisted of 1,000 liters from the March 1 beginning inventory and 1,380 liters from the March 3 purchase; and (i) The March 30 sale consisted of the following number of units sold from beginning inventory and each purchase: 425 liters from March 1; 505 liters from March 3, 2,900 liters from March 10; 1,270 liters from March 20. (2) FIFO (3) LIFO Ending Inventory Specific identification $ FIFO $ LIFO $ (1) Specific identification method assuming: (1) The March 5 sale consisted of 1,000 liters from the March 1 beginning inventory and 1,380 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: 425 liters from March 1; 505 liters from March 3; 2,900 liters from March 10; 1,270 liters from March 20. (2) FIFO (3) LIFO Windsor, Inc. Income Statement (partial) Specific Identification FIFO LIFO MINI

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