Current Attempt in Progress You have the following information for Oriole Inc. Oriole Inc. uses the periodic method of accounting for its inventory transactions. 1 March March 3 March 5 Beginning inventory 2.200 liters at a cost of 60 per liter, Purchased 2.500 liters at a cost of 70 per liter. Sold 2.300 liters for $1.05 per liter. Purchased 4,000 liters at a cost of 77 per liter. Purchased 2.400 liters at a cost of 85c per liter. Sold 5.000 liters for $1.25 per liter. March March 8 8 8 20 March 30 (a 1) Calculate the value of ending inventory that would be reported on the balance sheet, under each of the following cost flow Prepare partial income statements for 2022 through gross profit, 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 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: 2.100 liters from March 20. 121 FIFO (3) LIFO ORIOLEINC Income Statement (partial Specific Identification FIFO LIFO Specific identification FIFO LIFO > + Textbook and Me