problem 13 6a specific identification fifo lifo and weighted average hamilton compan 561416

Problem 13 6A
Specific Identification, FIFO, LIFO, and Weighted Average

Hamilton Company’s beginning inventory and purchases during the fiscal year ended September 30, 20 2, were as follows:

Use the following information for the specific identification method.

There are 1,000 units of inventory on hand on September 30, 20 2. Of these 1,000 units:


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 Sold Cost of Ending Inventory
1.FIFO $ $
2.LIFO $ $
3.Weighted average $ $
4.Specific identification $ $

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