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Accounting Can someone please help me with these problems? A. B. Laker Company reported the following January purchases and sales data for its only product.
Accounting
Can someone please help me with these problems?
A.
B.
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 220 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 35 are from beginning inventory. Exercise 5-3 (Algo) Periodic: Inventory costing methods LO P1 equired: Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, IFO, and (d) LIFO. A company reports the following beginning inventory and two purchases for the month of January. On January 26 , the company sells 400 units. Ending inventory at January 31 totals 150 units. 2S 5-7 (Algo) Periodic: Inventory costing with weighted average LO P3 ssume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on he weighted average method. lote: Round per unit costs to 2 decimal placesStep by Step Solution
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