Current Attempt in Progress You have the following information for Bonita Inc. Bonita Inc. uses the periodic method of accounting for its inventory transactions. March 1 Beginning inventory 2,100 liters at a cost of 70 per liter. March 3 Purchased 2.500 liters at a cost of 74 per liter. March 5 Sold 2,300 liters for $1.05 per liter. March 10 Purchased 4,000 liters at a cost of 814 per liter. March 20 Purchased 2.400 liters at a cost of 89 per liter. March 30 Sold 5,100 liters for $1.25 per liter. (a1) X Your answer is incorrect. 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, eg. 125.50) X Your answer is incorrect 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, eg. 125.50.) (1) Specific identification method assuming: (0) 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 (0) 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 Specific identification $ FIFO LIFO Ending inventory 295500 $ 537,600 458,000 3. (a2) Prepare partial income statements for 2022 through gross profit, under each of the following cost flow assumptions. (Round answers to 2 decimal places, eg. 125.25) (1) Specific identification method assuming (1) 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 (H) 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) Specific Identification FIFO LIFO eTextbook and Media Save for Later $ BONITAINC. Income Statement (partial) Specific Identification FIFO LIFO Attempts: 0 of 5 used Submit