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Boyce Company's beginning inventory and purchases during the fiscal year ended September 30, 20-2 were...

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Accounting

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Boyce 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 Beginning inventory 400 $15.00 $6,000 October 18 1st purchase 300 16.50 4,950 November 25 2nd purchase 600 17.00 10,200 January 12, 20-2 3rd purchase 700 17 25 12,075 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 27 7th purchase 500 21.75 10,875 4,000 $72,400 Instructions 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, 20-1 300 are from January 12, 20-2 100 are from March 17 1st purchase 3rd purchase 4th purchase 5th purchase 6th purchase 7th purchase 200 are from June 2 50 are from August 21 200 are from September 27 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: 1 FIFO 2 LIFO 3. Woighted average (round calculations to two decimal places) 4. Specific identification

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