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  1. business
  2. accounting
  3. prepare partial income statements for 2022 through

Prepare partial income statements for 2022 through gross profit, under each of the following cost...

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Accounting

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
(3) LIFO
BONITAINC.
Income Statement (partial)
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