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Browser=&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/question-group/ZAS Saved Help [ine following information applies to the questions displayed below. Laker Company reported the following January purchases and sales data for its
Browser=&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/question-group/ZAS Saved Help [ine following information applies to the questions displayed below. Laker Company reported the following January purchases and sales data for its only product. Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units sold at Retail 705 units Units Acquired at Cost 215 units @ $14.00-$3,010 160 units @ $13.00 2,080 330 units @ $12.50 4,125 $9,215 165 units @ $23.00 190 units $23.00 355 units The Company uses a perpetual Inventory system. For specific identification, ending inventory consists of 350 units, where 330 are 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
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