Problem (32 points) PLEASE RESPOND WITH THE SPECIFIC TABLE BELOW AND EXPLANATION THANKS!

Plum Company uses a PERIODIC inventory system. Plum had the following inventory purchases and sales during 2022:

2022 Beginning Inventory (bought in 2021)		50 units @ $80 per unit
Purchases:
Purchase 1 on 2/10/22		140 units @ $96 per unit
Purchase 2 on 8/7/22		60 units @ $100 per unit
Sales:
Sale 1 on 3/4/22		80 units @ $220 per unit
Sale 2 on 9/5/22		130 units @ $220 per unit

Of the units sold on 3/4/22, 50 units were from the beginning inventory and 30 units were from the 2/10/22 purchase. The 9/5/22 sale included 90 units from the 2/10/22 purchase and 40 units from the 8/7/22 purchase.

Show how Plums Balance Sheet and Income Statement would look under each of the inventory cost flow assumptions. Compute Ending Inventory, Sales, COGS, and Gross Profit under Specific Identification, Weighted Average Cost, FIFO and LIFO. Fill in your answers on the table below. SHOW YOUR WORK. Round per unit cost to the nearest cent.

		Specific Identification		Weighted Average		FIFO		LIFO
12/31/22 Balance Sheet
Inventory
2022 Income Statement
Sales
Cost of Goods Sold
Gross Profit