1. At year-end, Barr Company had shipped $13,100 of merchandise FOB destination to Lee Company. Which company should include the $13,100 of merchandise in transit as part of its year-end Inventory? 2. Parris Company has shipped $20,600 of goods to Harlow Company, and Harlow Company has arranged to sell the goods for Parris. Identify the consignor and the consignee. Which company should include any unsold goods as part of its inventory? Complete this question by entering your answers in the tabs below. Required 1 Required 2 At year-end, Barr Company had shipped $13,100 of merchandise FOB destination to Lee Company. Which company should include the $13,100 of merchandise in transit as part of its year-end inventory? Which company should include the $13,100 of merchandise in transit as part of its year-end inventory? Required 1 Required 2 > 1 1. At year-end, Barr Company had shipped $13,100 of merchandise FOB destination to Lee Company. Which company should include the $13,100 of merchandise in transit as part of its year-end Inventory? 2. Parris Company has shipped $20,600 of goods to Harlow Company, and Harlow Company has arranged to sell the goods for Parris. Identify the consignor and the consignee. Which company should include any unsold goods as part of its inventory? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Parris Company has shipped $20,600 of goods to Harlow Company, and Harlow Company has arranged to sell the goods for Parris. Identify the consignor and the consignee. Which company should include any unsold goods as part of its inventory? Identify the consignor Identify the consignee Which company should include any unsold goods as part of its inventory? < Required 1 Required 2 > 2 Hint Required information [The following information applies to the questions displayed below.] Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of 385 units from the January 30 purchase. 5 units from the January 20 purchase, and 15 units from beginning inventory. Date January 1 January 10 January 20 January 25 January 30 Activities Beginning inventory Sales Purchase Sales Purchase Totals Units Acquired at Cost 225 units @ $ 15.00 Units sold at Retail $ 3,375 175 units $ 24.00 180 units P 385 units @ 790 units $ 14.00- 2,520 210 units $ 24.00 $12.00- 4,620 $10,515 385 units Assume the perpetual inventory system is used. Required: 1. Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. 2. Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. 3. Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. 4. Determine the cost assigned to ending Inventory and to cost of goods sold using LIFO Complete this question by entering your answers in the tabs below. Specific Weighted Identification Average FIFO LIFO 4 Hint mata tha Tania in notermine the net accinnan to andinn manton on canne en una enorite intration Required information 4. Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. Complete this question by entering your answers in the tabs below. Specific Identification Weighted Average FIFO LIFO Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. Specific Identification Available for Sale Cost of Goods Sold Ending Inventory Purchase Date Activity #of units Cost Per Unit of units sold Cost Per Unit Cost of Goods Sold Ending Inventory- Units Cost Per Unit Ending Inventory-Cost January 11 Beginning inventory 225 January 20 Purchase 180 January 30 Purchase 385 790 < Specific Santification Weighted Average > Required information Specific Identification Weighted Average HIE LIFO Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. Note: Round cost per unit to 2 decimal places, Weighted Average Perpetual: Goods Purchased Cost of Goods Sold Inventory Balance Date # of units Cost per #of units i unit sold Cost per unit Cost of Goods Sold of units Cost per unit January 11 225 at $ 15 00 S Inventory Balance 3,375 00 January 10 January 201 Average cost January 20 January 25 January 30 Totals Specific Identification FIFO > Han Required information Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO: Goods Purchased Cost of Goods Sold Date # of units Cost per unit # of units sold Cost per Cost of Goods unit Sold # of units Cost per unit Inventory Balance Inventory Balance 225 at $15.00 3,375.00 January 1 January 10 January 20 Total January 20 January 25 Total January 25 January 30 Totals 2 Hint Required information Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. Goods Purchased Perpetual LIFO: Cost of Goods Sold Inventory Balance Date Cost per of units # of units unit sold unit Cost per Cost of Goods Sold # of units Cost per Inventory Balance unit January 11 225 at $15.00 = $ 3,375 00 January 10 January 20 Total January 20 January 25 Total January 25 January 30 Totals