I need help!! I am stuck on this question and I am not sure how to do it.. Please help!

Price: $15 USD

Question description

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:

[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">


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 Inventory
1.  FIFO$$
2.  LIFO$$
3.  Weighted-average$$
4.  Specific identification$$

Tutor Answer

(Top Tutor) Daniel C.
School: Duke University
Studypool has helped 1,244,100 students
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1831 tutors are online

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors