Exercise 6-14 (Part Level Submission) This information is available for Pina Colada Corp. for 2017, 2018, and 2019. Beginning Inventory Ending Inventory Cost of goods sold Net sales 2017 $ 119,000 316,500 908,500 1,194,000 2018 $ 316,500 420,000 1,121,500 1,590,500 2019 $ 420,000 482,000 1,299,500 1,907,000 (al) Calculate Inventory tumover for Pina Colada Corp. for 2017, 2018, and 2019. (Round answers to 2 decimal places, e.g. 1.52.) 2017 2018 2019 Inventory turnover You are provided with the following information for Sheffield Corp. Sheffield Corp. uses the periodic system of accounting for its Inventory transactions. March 1 Beginning Inventory 2,100 liters at a cost of 624 per liter. March 3 Purchased 2,490 liters at a cost of 670 per liter. March 5 Sold 2,350 liters for $1.10 per liter. March 10 Purchased 4,170 liters at a cost of 740 per liter. March 20 Purchased 2,580 liters at a cost of 824 per liter. March 30 Sold 5,190 liters for $1.25 per liter. (al) 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: (1) The March 5 sale consisted of 1,000 liters from the March 1 beginning Inventory and 1,350 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: 425 liters from March 1; 600 liters from March 3; 2,900 liters from March 10; 1,265 liters from March 20. (2) FIFO (3) LIFO Ending Inventory Specific identification FIFO $ LIFO