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eBook Print Item Specific Identification, FIFO, LIFO, and Weighted-Average Swing Company's beginning inventory and purchases during the fiscal year ended September 30, 20-2, were
eBook Print Item Specific Identification, FIFO, LIFO, and Weighted-Average Swing Company's beginning inventory and purchases during the fiscal year ended September 30, 20-2, were as shown. Units Unit Price Total Cost October 1, 20-1 Beginning inventory 410 $20.00 $8,200 October 18 1st purchase 540 20.50 11,070 November 25 2nd purchase 230 21.50 4,945 January 12, 20-2 3rd purchase 350 23.00 8,050 March 17. 4th purchase 920 24.00 22,080 June 2 5th purchase 810 24.50 19,845 August 21 6th purchase 200 25.50 5,100 September 27 7th purchase 730 26.50 19,345 4,190 $98,635 Hen the following information for the specific identification method. Use the following information for the specific identification method. There are 1,300 units of inventory on hand on September 30, 20-2. Of these 1,300 units: 100 are from October 18, 20-1 200 are from January 12, 20-2 100 are from March 17 400 are from June 2 200 are from August 21 1st purchase 3rd purchase 4th purchase 5th purchase 6th purchase 7th purchase 300 are from September 27 Required: Calculate the total amount to be assigned to cost of goods sold for the fiscal year ended September 30, 20-2, and ending inventory on September 30, 20-2, under each of the following periodic inventory methods Cost of Goods Cost of Ending Inventory 10000 10000 1. FIFO 2. LIFO 3. Weighted-average (round calculations to two decimal places) 4. Specific identification.
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