Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

6 Panto Required information Use the following information for the Exercises below. The following information applies to the questions displayed below) Laker Company reported the

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
6 Panto Required information Use the following information for the Exercises below. The following information applies to the questions displayed below) Laker Company reported the following January purchases and sales data for its only product 3.75 15 $16.00 Quel tegning wentary Jan 10 sales Jan 20 Purchase 25 Sales San. Purchase Totals Aquest cost 150 units 57.10 - 31,230 110 units 56.08. 2.00 units 55.50 - 54 Sets 53,5 130 556. The Company uses a perpetual inventory system For specific identification ending invertory consists of 300 units where 280 ate from the January 30 purchase. 5 are from the January 20 purchase, and 15 are from beginning inventory Exercise 6-3 Perpetual Inventory costing methods LO P1 Required: 1. Complete the table to determine the cost signed 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 issigned to ending invertory and to cost of goods sold using LIFO Complete this question by turn your answers in the tabs below. Reged 4 Complete the table to determine the cost signed to ending inventory and cost of goods sold using specific identification and cost per unit todecim Specific Identification Costul Goods sold 375 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. Required Required 2 Required Required 4 Complete the table to determine the cost amigned to ending inventory and cost of goods sold using specific identification (Round cost per unit to 2 decimat place Specific Identification | Enlig mer Ending Cast Ending Inwy co Act COGS C Lid Jant 1 lan Jan Beginning Pochuss Puh 190 110 200 500 0 5 0 5 0 Required 2 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. Required 1 required 2 required 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 Good Purchased Costol Goods Sold Inventory Balance Date ol rol Cost per Cost of Goods vantony units of units Sold sold un Balance January 1 1905 7.00 5 1.330.00 January 10 January 20 (Cost per Castpor Average cost January 25 January 30 Total 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. Required di 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 ol unit Cost of Goods Sold of units Cost of Goods sold unit Sold Cost per (Cast per Date Costel Inventory Balance of units Inventory Balance 190 $ 700 5.1 330 00 January 1 January 10 January 20 January 25 January 30 Required information 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. required 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.) Perpetua UFO Goods Purchased Contol Goods Sold Intor Balance (Costpor of units Cost per Cost of Goods Coupe eventory sold of units unit Sold unik Balance January 1 190 5 700 5 133000 January 10 January 20 January 25 January 30 Total

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions