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Swing Company's beginning inventory and purchases during the fiscal year ended September 30, 20-2, were as follows: Units Unit Price Total Cost October 1, 20-1

Swing Company's beginning inventory and purchases during the fiscal year ended September 30, 20-2, were as follows:

Units

Unit Price

Total Cost

October 1, 20-1

Beginning inventory

400

$20.00

$8,000

October 18

1st purchase

500

20.50

10,250

November 25

2nd purchase

200

21.50

4,300

January 12, 20-2

3rd purchase

300

23.00

6,900

March 17

4th purchase

900

24.50

22,050

June 2

5th purchase

800

25.00

20,000

August 21

6th purchase

200

26.00

5,200

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:

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

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. For the weighted-average method, round the average unit cost to two decimal places. Round all final answers to the nearest dollar.

Cost of Goods Sold

Cost of Ending Inventory

1. FIFO

$

$

2. LIFO

$

$

3. Weighted-average

$

$

4. Specific identification

$

$

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