RECOMMENDED!!BBA 4951-March1 Beginning inventory 1,900 liters

  

March1Beginning inventory 1,900 liters at a cost of 58¢ per liter.March3Purchased 2,550 liters at a cost of 63¢ per liter.March5Sold 2,300 liters for $1.00 per liter.March10Purchased 4,200 liters at a cost of 72¢ per liter.March20Purchased 2,500 liters at a cost of 78¢ per liter.March30Sold 5,300 liters for $1.30 per liter.:(i)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(ii)The March 30 sale consisted of the following number of units sold from beginning inventory and each purchase: 500 liters from March 1; 600 liters from March 3; 2,850 liters from March 10; 1,350 liters from March 20Specific identification $_______FIFO$_______LIFO $_______

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