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can i get help with those please Required information [The following information applies to the questions displayed below.] Laker Company reported the following January purchases
can i get help with those please
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 perpetual inventory system. For specific identification, ending inventory consists of 180 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. The Company uses a periodic inventory system. For specific identification, ending inventory consists of 180 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c) FIFO, and LiFO. Complete this question by entering your answers in the tabs below. Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 a Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decim Determine the cost assigned to ending imventory and to cost of goods sold using FIFO. Determine the cost assigned to ending inventory and to cost of goods sold using LiFo. Compute gross profit for the month of January for Laker Company for the four inventory methods. (Round cost per unit to 2 decimal places and final answers to the nearest whole doliars.) 2. Which method yields the highest gross profit? 3. Does gross profit using weighted average fall between that using FIFO and LIFO? 4. If costs were rising instead of falling, which method would yield the highest gross profit Step by Step Solution
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