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 Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. Perpetual LIFO: Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Goods Purchased Cost per # of units unit Date Inventory Balance Cost per unit Inventory Balance # of units January 1 150 at $ 7.50 = $ 1,125.00 January 10 January 20 Total January 20 January 25 Total January 25 January 30 Totals 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 Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO: Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Goods Purchased Cost per # of units Date Inventory Balance Cost per unit Inventory Balance unit # of units January 1 150 at $ 7.50 = $ 1,125.000 January 10 January 20 Total January 20 January 25 Total January 25 January 30 Totals pipeluu VEHILUTY System. IUI SPELL IUCHILITLULIUIT, CHUTY MIVELUTY LUI SISLS UI LUU UTILS ITUITI LIIS JUTTUU y vu purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory. Date Activities Units Acquired at Cost Units sold at Retail January 1 Beginning inventory 150 units @ $7.50 = $ 1,125 January 10 Sales 110 units @ $ 16.50 January 20 Purchase 80 units @ $ 6.50 = 520 January 25 Sales 90 units @ $ 16.50 January 30 Purchase 200 units@ $ 6.00 = 1,200 Totals 430 units $ 2,845 200 units 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. LIFO Weighted Specific Id FIFO Average 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 Date Cost per # of units Cost per Cost of Goods # of units # of units Cost per unit Inventory Balance unit sold unit Sold January 1 150 at 7.50 = 1,125.00 S $ January 10 January 20 Average cost January 20 January 25 January 30 Totals 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. The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 200 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory. Units sold at Retail Units Acquired at Cost 150 units @ $7.50 = $ 1,125 Date January 1 January 10 January 20 January 25 January 30 Activities Beginning inventory Sales Purchase Sales Purchase 110 units @ $16.50 80 units @ $ 6.50 = 520 90 units @ $ 16.50 @ $ 6.00 = 200 units 430 units 1,200 $ 2,845 Totals 200 units 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 Id Weighted Average FIFO LIFO Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. Available for Sale Ending Inventory Specific Identification Cost of Goods Sold Cost Per # of units Unit sold Cost Per Unit COGS Purchase Date Activity # of units Ending Inventory- Units Cost Per Unit Ending Inventory-Cost 7.50 134 $ 7.50 S 1,005 January 1 January 20 January 30 Beginning inventory Purchase Purchase 150 $ 80 200 430 134 $ 1,0051 $ 0
