Specific Identification, FIFO, LIFO, and Weighted-Average Boyce Company's beginning inventory and purchases during the fiscal year ended September 30, 20-2, are shown. Unit Total Units Price Cost October 1, Beginning 400 $15.00 $6,000 20-1 inventory October 18 1st purchase 300 16.50 4,950 November 2nd purchase 600 17.00 10,200 25 January 12, 3rd purchase 700 17.25 12,075 20-2 March 17 4th purchase 800 18.00 14,400 June 2 5th purchase 400 19.00 7,600 August 21 6th purchase 300 21.00 6,300 September 7th purchase 500 21.75 10,875 27 4,000 $72,400 Use the following information for the specific identification method.

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Specific Identification, FIFO, LIFO, and Weighted-Average
Boyce Company's beginning inventory and purchases during the fiscal year ended September 30, 20-2, are shown.
Unit
Total
Units
Price
Cost
October 1,
Beginning
400 $15.00
$6,000
20-1
inventory
October 18
1st purchase
300
16.50
4,950
November
2nd purchase
600
17.00
10,200
25
January 12,
3rd purchase
700
17.25
12,075
20-2
March 17
4th purchase
800
18.00
14,400
June 2
5th purchase
400
19.00
7,600
August 21
6th purchase
300
21.00
6,300
September
7th purchase
500
21.75
10,875
27
4,000
$72,400
Use the following information for the specific identification method.
Transcribed Image Text:еВook Print Item Specific Identification, FIFO, LIFO, and Weighted-Average Boyce Company's beginning inventory and purchases during the fiscal year ended September 30, 20-2, are shown. Unit Total Units Price Cost October 1, Beginning 400 $15.00 $6,000 20-1 inventory October 18 1st purchase 300 16.50 4,950 November 2nd purchase 600 17.00 10,200 25 January 12, 3rd purchase 700 17.25 12,075 20-2 March 17 4th purchase 800 18.00 14,400 June 2 5th purchase 400 19.00 7,600 August 21 6th purchase 300 21.00 6,300 September 7th purchase 500 21.75 10,875 27 4,000 $72,400 Use the following information for the specific identification method.
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Print Item
Use the following information for the specific identification method.
There are 900 units of inventory on hand on September 30, 20-2. Of these 900 units:
50 are from October 18, 20-1
1st purchase
300 are from January 12, 20-2
3rd purchase
100 are from March 17
4th purchase
200 are from June 2
5th purchase
50 are from August 21
6th purchase
200 are from September 27
7th purchase
Required:
Calculate the total amount to be assigned to the 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 Goods
Cost of Ending
Sold
Inventory
1. FIFO
2. LIFO
3. Weighted-
average
4. Specific
identification
%24
%24
Transcribed Image Text:еВook Print Item Use the following information for the specific identification method. There are 900 units of inventory on hand on September 30, 20-2. Of these 900 units: 50 are from October 18, 20-1 1st purchase 300 are from January 12, 20-2 3rd purchase 100 are from March 17 4th purchase 200 are from June 2 5th purchase 50 are from August 21 6th purchase 200 are from September 27 7th purchase Required: Calculate the total amount to be assigned to the 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 Goods Cost of Ending Sold Inventory 1. FIFO 2. LIFO 3. Weighted- average 4. Specific identification %24 %24
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