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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
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 400 $20.00 $8,000 500 20.50 10,250 200 21.50 4,300 October 1, 20-1 Beginning inventory October 18 1 st purchase November 25 2nd purchase January 12, 20-2 3rd purchase March 17 4th purchase June 2 5th purchase 300 23.00 6,900 900 24.50 22,0501 800 25.00 20,000 5,200 August 21 6th purchase 200 26.00 September 27 7th purchase 700 27.00 18,900 4,000 $95,600 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: 18, 20- 1st purchase 200 are from January 12, 20-2 3rd purchase 100 are from March 17 4th purchase 400 are from June 2 200 are from August 21 300 are from September 27 5th purchase 6th purchase 7th purchase 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. 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 Sold Cost of Ending Inventory $ 1. FIFO $ 2. LIFO $ $ LOOO Oooh 3. Weighted average (round calculations to two decimal places) $ $ 4. Specific identification
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