# You are provided with the following information for Barton I

You are provided with the following information for Barton Incâ€¦. Show more Problem 6-6A (Part Level Submission) You are provided with the following information for Barton Inc. Barton Inc. uses the periodic method of accounting for its inventory transactions. March 1 Beginning inventory 2,025 liters at a cost of 59Â¢ per liter. March 3 Purchased 2,405 liters at a cost of 64Â¢ per liter. March 5 Sold 2,295 liters for \$1.00 per liter. March 10 Purchased 4,165 liters at a cost of 71Â¢ per liter. March 20 Purchased 2,585 liters at a cost of 79Â¢ per liter. March 30 Sold 5,275 liters for \$1.30 per liter. (a1) 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: (i) The March 5 sale consisted of 1,000 liters from the March 1 beginning inventory and 1,295 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: 480 liters from March 1; 595 liters from March 3; 2,900 liters from March 10; 1,300 liters from March 20. (2) FIFO (3) LIFO (a2) Prepare partial income statements through gross profit, under each of the following cost flow assumptions. (Round answers to 2 decimal places, e.g. 125.25.) (1) Specific identification method assuming: (i) The March 5 sale consisted of 1,000 liters from the March 1 beginning inventory and 1,295 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: 480 liters from March 1; 595 liters from March 3; 2,900 liters from March 10; 1,300 liters from March 20. (2) FIFO (3) LIFO BARTON INC. Income Statement (partial) BARTON INC. Income Statement (partial) â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦.. BARTON INC. Income Statement (partial) BARTON INC. Income Statement (partial) â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦.. BARTON INC. Income Statement (partial) BARTON INC. Income Statement (partial) â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦.. BARTON INC. Income Statement (partial) BARTON INC. Income Statement (partial) â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦.. Explanation Specific Identification FIFO LIFO â€¢ Show less

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