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2/2 Required information [The following information applies to the questions displayed below] Laker Company reported the following January purchases and saies data for its only
2/2
Required information [The following information applies to the questions displayed below] Laker Company reported the following January purchases and saies data for its only product. For specific identification, ending inventory consists of 310 units from the January 30 purchase, 5 units from the January 20 purchase, and 30 units from beginning inventory. issume the perpetual inventory system is used. lequired: 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 Step by Step Solution
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