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1 aker Company reported the following January purchases and sales data for its only product. Exercise 6-3 Perpetual: inventory Activities Date Units Acquired at Cost
1 aker Company reported the following January purchases and sales data for its only product. Exercise 6-3 Perpetual: inventory Activities Date Units Acquired at Cost Units Sold at Retail costing methods Beginning inventory Jan. 1 140 units@$6.00 $ 840 P1 Jan. 10 Sales. 100 units $15 Jan. 20 Purchase 60 units@$5.00 300 an. 25 Sales. 80 units @ $15 Jan. 30 Purchase 180 units@$4.50 380 units 810 Totals $1,950 180 units Required The company uses a perpetual inventory system. Determine the cost assigned to ending inventory and to cost of 90ods sold using (a) specific identification, (b) weighted average, (c) FIFO, and (d) LIFO. (Round per unit costs and inventory amounts to cents.) For specific identification, ending inventory consists of 200 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. Check Ending inventory LIFO, $930, WA, $918 ACCT 121 name #6.1 Print in landscape orientation. Ex6-3, Parts c & d 11/04/2019 Inventory Balance Goods Purchased Cost of Goods Sold Date FIFO 140 units @ $6 = $840 Perpetual 1/01 Sold at $15 100 units 1/10 60 units@ $5 1/20 80 units 1/25 180 units@ $4.50 1/30 Inventory Balance Cost of Goods Sold LIFO Goods Purchased Date 140 units@ $6 = $840 Perpetual 1/01 Sold at $15 00 units 1/10 60 units@ $5 1/20 80 units 1/25 180 units@ $4.50 1/30
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