Question: Current Attempt in Progress You have the following information for Concord Inc. Concord Inc. uses the periodic method of accounting for its inventory transactions March

Current Attempt in Progress You have the following information for Concord Inc. Concord Inc. uses the periodic method of accounting for its inventory transactions March 1 March 3 Beginning inventory 2,200 liters at a cost of 804 per liter. Purchased 2.500 liters at a cost of 84 per liter. Sold 2,300 liters for $1.05 per liter. Purchased 4,000 liters at a cost of 914 per liter. March 5 March 10 March 20 Purchased 2,300 liters at a cost of 99 per liter. Sold 5,000 liters for $1.25 per liter. March 30 Prepare partial income statements for 2022 through gross proht, under each of the following cost flow assumptions. (Round answers to 2 decimal places, es. 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 GD) 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 liters from March 20. (2) FIFO (3) LIFO CONCORDINC. Income Statement (partial) Specific Identification FIFO LIFO $ $
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