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 follows: Units Unit Price Total Cost October 1, 20-1 $20.00 $ 8,000 Beginning inventory 1st purchase 2nd purchase 3rd purchase 4th purchase 5 th purchase 6th purchase 7th purchase 400 October 18 500 20.50 10,250 November 25 200 21.50 4,300 January 12, 20-2 6,900 22,050 20,000 5,200 300 23.00 March 17 900 24.50 June 2 August 21 September 27 800 25.00 200 26.00 700 27.00 18,900 $95,600 4,000

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 follows: Units Unit Price Total Cost October 1, 20-1 $20.00 $ 8,000 Beginning inventory 1st purchase 2nd purchase 3rd purchase 4th purchase 5 th purchase 6th purchase 7th purchase 400 October 18 500 20.50 10,250 November 25 200 21.50 4,300 January 12, 20-2 6,900 22,050 20,000 5,200 300 23.00 March 17 900 24.50 June 2 August 21 September 27 800 25.00 200 26.00 700 27.00 18,900 $95,600 4,000

Name: **Inventory Information and Calculation Task**On September 30, 20-2,
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Description: **Inventory Information and Calculation Task**On September 30, 20-2, there are 1,300 units of inventory on hand. The breakdown of these units and their respective purchase dates are as follows:- 100 units are from October 18, 20-1 (1st purchase)- 20

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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