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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 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 Required: 1st purchase 3rd purchase 4th purchase 5th purchase 6th purchase 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 method Cost of Goods Sold Cost of Ending Inventory < Use the following information for the specific identification method. 1. FIFO 2. LIFO 3. Weighted-average (round calculations to two decimal places) 4. Specific identification
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