Question: Specific Identification, FIFO, LIFO, and Weighted-Average Swing Company's beginning inventory and purchases during the fiscal year ended September 30, 20-2, were Units Unit Price

Specific Identification, FIFO, LIFO, and Weighted-Average Swing Company's beginning inventory and purchases during the fiscal year ended September 30, 20-2, were Units Unit Price Total Cost $20.5 $8,815 21 11,340 22 4,840 23 7,130 22,295 21,000 5,100 18,815 $99,335 October 1, 20-1 October 18 November 25 January 12, 20-2 March 17 June 2 August 21 September 27 Beginning inventory 430 540 220 310 910 Required: 1st purchase 2nd purchase 3rd purchase 4th purchase 5th purchase 6th purchase 7th purchase 840 200 4,160 24.5 25 25.5 26.5 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: 100 are from October 18, 20-1 1st purchase 200 are from January 12, 20-2 3rd purchase 100 are from March 17 4th purchase 400 are from June 2 5th purchase 200 are from August 21 6th purchase 300 are from September 27 7th purchase

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Trial Balance May 31, 2020 Account Number Debit Credit 101 Cash 4,500 112 Accounts Receivable 5,800 126 Supplies 2,200 130 Prepaid Insurance 4,800 149 Equipment 10,800 201 Accounts Payable 4,500 209...

1. Calculate column percentages for the table below. Once you... 1.Calculate column percentages for the table below.Once you have arrived at an answer, please write sentence or two interpreting the...

Hello, can you please help me with a math assignment. I included everything down below as an image. Thank you so much. 2 of 6 4. Which expression is an equivalent form of -(2-x)(x 3)? a. (x-2)(x-3)...

eBook Calculator 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. October 1,...

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...

Specific Identification, FIFO, LIPO, 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...

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...

Accounting questions! Need help. Has to do with general journals,Straight-Line, Declining-Balance, and Sum-of-the-Years'-Digits Methods, etc. 1. Straight-Line, Declining-Balance, and...

What are the six major roles of information systems in organizations? How are information systems used in each context?

Monocarboxylic acids are functional isomers of (a) Esters (b) Amines (c) Ethers (d) Alcohols

Mercedes - Benz is an example of a differentiation competitive strategy ( incorporating differentiating features ) . True False Question 2 ( 5 . 5 5 points ) Strategic management is one decision that...

A telemarketing firm uses a computer connected to an online phone book for Metropolis. A large number of messages are sent, but on average only 10 people per hour listen to such messages. Let X be...

Suppose Anytime Wireless offers an international calling plan that charges $8.00 per month plus $0.20 per minute for calls outside the United States. 1. Under this plan, what is your monthly...

J. K. Bijan owns a retail business and made the following sales on account during the month of August 20--. There is a 6% sales tax on all sales. Aug. 1 Sale No. 213 to Jung Manufacturing Co., $1,200...

Customers arrive at a bakery at an average rate of f 6 per half-hour. For simplicity, suppose each customer spends $2.50 on their purchase. a. What is the probability that exactly 3 customers will...

Cars pass an intersection at an average rate of 4 cars per 5-minute interval. Let X be the number of cars that pass in the next 5 minutes. a. Show the labeled graph of the mass for X. b. Show the...

The batch size is tripled on a resource that has a setup time. What is the likely impact on the resources capacity?multiple choiceDecrease by (1)/(3)Decrease by less than (1)/(3)Increase by less than...

Give at least four examples of possible constraints.

Consider each part below independently. Ignore income taxes. 1. Preston Companys required rate of return is 14% on all investments. The company can purchase a new machine at a cost of $84,900. The...

Company uses a standard cost system and sets predetermined overhead rates on the basis of direct labor-hours. The following data are taken from the companys budget for the current year: The standard...

23. What causes astigmatismpg78

2. A rabbits eyes are on the sides of its head instead of in front. Would you expect rabbits to have many cells with binocular receptive fieldsthat is, cells that respond to both eyespg78 Why or why...

2. Identify the four major structures that compose a neuron.