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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 October 1, 20-1 Beginning inventory 410 $20.00 $8,200 October 18 1st purchase 540 20.50 11,070 November 25 2nd purchase 220 21.50 4,730 January 12, 20-2 3rd purchase 330 22.00 7,260 March 17 4th purchase 870 23.50 20,445 June 2 5th purchase 770 24.00 18,480 August 21 6th purchase 200 25.00 5,000 September 27 7th purchase 680 26.00 1,020 17,680 $92,865 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 21 300 are from September 27 1st purchase 3rd purchase 4th purchase 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. Check My Work 1 more Check My Work uses remaining. Assignment Score: 45.24% All work saved. Previous Save and Exit Submit Assignment for Grading
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