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.

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. Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 220 units! $14.50 - $3,190 Jan. 10 Sales 170 units $23.50 Jan. 20 Purchase 170 units $13.50 - 2,295 Jan. 25 Sales 200 units @ $23.50 340 units @ $13.00 - 4,420 Totals 730 units $9,905 370 units Jan. 30 Purchase The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 360 units, where 340 are from the January 30 purchase. 5 are from the January 20 purchase, and 15 are from beginning inventory. 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. (Round cost per unit to 2 decimal places.) Specific Identification Available for Sale Cost of Goods Sold Units Unit COGS Sold Cost Purchase Date Activity Ending Inventory Ending Cost Ending Inventory Per Inventory- Units Unit Cost Unit Cost Units Jan. 1 220 205 $ 14.50 $ 2,973 15$ 14.50 s 218 Beginning inventory Purchase Jan. 20 170 IS 14.50 S 13.50 IS 13.00 165 $13.50 $ 2,228 5 $13.50 s 68 Jan. 30 Purchase 340 0 4,420 340$ 13.00 360 $ $ 730 370 $ 5,201 4.706 (Required Required 2 > 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. Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 220 units $14.50 - $3,190 Jan. 10 Sales 170 units $23.50 Jan. 20 Purchase 170 units $13.50 - 2,295 Jan. 25 Sales 200 units @ $23.50 Jan. 30 Purchase 340 units $13.00 - 4,420 Totals 730 units $9,905 370 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 360 units, where 340 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal places.) Weighted Average - Perpetual: Goods Purchased Cost of Goods Sold Inventory Balance Cost # of Date Cost # of units Cost Cost of Goods units per per sold # of units Inventory per Sold unit unit unit Balance January 1 220 S $3,190.00 14.50 January 170 10 $2.485.00 s 500 14.50 $ 125.00 - 14.50 January 170 IS $ 20 50 13.50 14.50 $ 125.00 170 S 2.295.00 13.50 Average cost 220 $ 13.73 $3,020.00 January 200 $2,746.00 25 S 13.73 20 - $ 274.60 13.73 January $ 30 340 S 20 13.00 13.73 $ 274.60 340 S 13.00 4.420.00 Totals $5.211.00 360 IS 13.00 $4,694.60 . a BE 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. Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 220 units $14.50 - $3,190 Jan. 10 Sales 170 units @ $23.50 Jan. 20 Purchase 170 units $13.50 - 2,295 Jan. 25 Sales 200 units @ $23.50 Jan. 30 Purchase 340 units $13.00 - 14,420 otals 730 units $9,905 370 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 360 units, where 340 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. (Round cost per unit to 2 decimal places.) Perpetual FIFO: Goods Purchased # of Cost units per unit Cost of Goods Sold # of units Cost Cost of Goods sold per unit Sold Inventory Balance Cost per Inventory unit Balance Date # of units January 1 220 S 14.50 3.190.00 January 10 170 . . IS 2.465.00 14.50 50@ $ 725.00 January 20 170 @ S 14.50 S 14.50 S 13.50 $ 725.00 50 170 @ 13.50 2.295.00 $ 3.020.00 S January 25 S 14.50 S 725.00 20 l $ 290.00 50 @ 150 2.025.00 20 IS 13.50 $ 270.00 13.50 Is 2.750.DO $ 560.00 January 30 340 > 20 @ $ 290.00 13.00 3:40 60 IS 14.50 S 13.50 S 13.00 4.590.00 Totals Is 5.215.00 $ 4.880.00 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. Date Activities Units acquired at Cost Units sold at Retail Jan. Beginning inventory 220 units $14.50 - $3,190 Jan. 10 Sales 170 units @ $23.50 Jan. 20 Purchase 170 units $13.50 2,295 Jan. 25 Sales 200 units @ $23.50 Jan. 30 Purchase 340 units $13.00 - 4,420 Total: 730 units $9,905 370 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 360 units, where 340 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. (Round cost per unit to 2 decimal places.) Perpetual LIFO: Goods Purchased # of Cost Date units per unit January 1 Cost of Goods Sold # of units Cost Cost of Goods per sold unit Sold # of units Inventory Balance Cost per Inventory unit Balance $14.50 3,190.00 220 January 10 170 . $ 14.50 - $ 2.465.00 50 $14.50 $ 725.00 January 20 170 . IS . 50 > 13.50 $14.50 $13.50 170 $ 725.00 2,295.00 5 3,020.00 January 25 30 $ 435.00 20 $14.50 $ 290.00 $ 14.50 $ 13.50 170 lo $13.50 2,295.00 $ 2.730.00 $ 290.00 January 30 340 S 13.00 20 $14.50 s 290.00 3401 4,590.00 $13.50 $13.00 $ Totals 5.195.00 IS 4,800.00