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Units Unit Price Total Cost October 1, 20-1 Beginning Inventory 430 $20.00 $8,600 October 18 1st purchase 530 20.50 10,865 November 25 2nd purchase
Units Unit Price Total Cost October 1, 20-1 Beginning Inventory 430 $20.00 $8,600 October 18 1st purchase 530 20.50 10,865 November 25 2nd purchase 210 21.50 4,515 January 12, 20-2 3rd purchase 350 22.00 7,700 March 17 4th purchase 880 23.00 20,240 June 2 5th purchase 830 23.50 19,505 August 21 6th purchase 200 24.00 4,800 September 27 7th purchase 690 25.00 17,250 4,120 $93,475 100 are from October 18, 20-1 200 are from January 12, 20-2 < 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: 1st purchase 3rd purchase 4th purchase 5th purchase 6th purchase 7th purchase 100 are from March 17 400 are from June 2 200 are from August 21 300 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 Ending Cost of Goods Sold Inventory 1. FIFO 2. LIFO 3. Weighted-average (round calculations to two decimal places) 4. Specific identification 0000 10000
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