Specific Identification, FIFO, LIFO, and Weighted-AverageSwi.
Specific Identification, FIFO, LIFO, and Weighted-AverageSwing Company’s beginning inventory and purchases during the fiscal year ended September 30, 20-2, were as follows:[img src=’http://sjc.cengagenow.com/ilrn/books/hpca21h/images/ch13/hpca_21h_ch13_ex13_6a-01.JPG’>There are 1,300 units of inventory on hand on September 30, 20-2. Of these 1,300 units:[img src=’http://sjc.cengagenow.com/ilrn/books/hpca21h/images/ch13/hpca_21h_ch13_ex13_6a-02.JPG’>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. 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 SoldCost of Ending Inventory1. FIFO$$2. LIFO$$3. Weighted-average$$4. Specific identification$$