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	440	$19.00		$8,360
October 18	1st purchase	540	19.50		10,530
November 25	2nd purchase	220	20.50		4,510
January 12, 20-2	3rd purchase	300	21.00		6,300
March 17	4th purchase	920	22.00		20,240
June 2	5th purchase	790	22.50		17,775
August 21	6th purchase	200	23.00		4,600
September 27	7th purchase	700	24.00		16,800
		4,110			$89,115

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	1st purchase
200 are from January 12, 20-2	3rd purchase
100 are from March 17	4th purchase
400 are from June 2	5th purchase
200 are from August 21	6th purchase
300 are from September 27	7th purchase