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Saved 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 periodic Inventory system. For specific identification, ending Inventory consists of 330 units, where 300 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory. Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 200 units @ $12.50 = $2,500 Jan. 10 Sales 160 units @ $21.50 Jan. 20 Purchase 130 units@ $11.50 - 1,495 Jan. 25 Sales 140 units @ $21.50 Jan. 30 Purchase 300 units @ $11.00 - 3,300 Totals 630 units $7,295 300 units Required: Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average. ( FIFO, and (d) LIFO. Complete this questions by entering your answers in the below tabs. Specific Id Weighted FIFO LIFO arch O DI E Reis 5-01 Saved Required: Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification. (b) weighted average (a FIFO, and () LIFO. Complete this questions by entering your answers in the below tabs. Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending Inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal places.) b) Average Cost Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Average Cost of Goods Average #of units Average # of unita Cost of Cost per #of units Cost per Available for Ending in ending Cost per Goods Sold sold unit Unit Sale Inventory unit Inventory Beginning inventory Purchases Jan 20 Jan 30 $ $ 0 s Total O search E . Required: Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific Identification, (b) weighted ave FIFO, and (c) LIFO. Complete this questions by entering your answers in the below tabs. Specific Id Weighted Average FIP LIFO Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. c) FIFO Cost of Goods Available for Sale Cost of Goods Sold Cost of Goods Cost per # of units Cost per Cost of # of units unit Available for sold unit Sale Goods Sold Beginning inventory Purchases Ending Inventory #of units Cost in ending Ending per unit Inventory Inventory Jan 20 Jan 30 0 0 $ $ $ 0 Total R 0 search ] Required: Determine the cost assigned to ending Inventory and to cost of goods sold using (a) specific identification. (b) weighted FIFO, and () LIFO. Complete this questions by entering your answers in the below tabs. Specific la Weighted Average FIFO NIFO Determine the cost assigned to ending Inventory and to cost of goods sold using LIFO. d) LIFO Cost of Goods Available for Sale Cost of Goods Sold Cost of Goods # of units Available for # of units Cost per Cost of unit Sale sold unit Goods Sold Beginning inventory Purchases Jan 20 Cost per Ending Inventory # of units Cost Ending in ending Inventory per unit Inventory Jan 30 0 $ Total 0 0 0 $ 0 0 $
