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Required information Laker Company reported the following January purchases and sales data for its only product. Date ctivities Beginning Jan. 1 inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase 185 units@ $11.00-$2,035 100 units@ $10.00 1,e00 270 unitse $ 9.58- 2,565 145 units $20.00 125 units@ $20.00 Totals 555 units $5,600 270 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 285 units, where 270 are from the January 30 purchase, 5 are from the January 20 purchase, and 10 are from beginning inventory 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 questions by entering your answers in the below tabs. Required information 4. Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. Complete this questions by entering your answers in the below tabs. Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific Identification. Ending Inventory Ending Cost Per Inventory Available for Sale Cost of Goods Sold Ending Units Cost Unit Cost COGS Inventory Purchase Date Activity Unit Units Jan. 1 Jan. 20 Jan. 30 185 11.00 Purchase100 S 10.00 270 s 9.50 0 Required 2> 4. Determine the cost assigned to ending inventory and to cost of goods sold using LIFO Complete this questions by entering your answers in the below tabs. Required 1 Required 2Required 3 Required 4 the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit t Goods Purchased Cost of Goods Sold #of units Cost per unit #of units Cost per Cost of Goods sold #Of units Cost per Inventory Balance Date unit Sold unit January 1 185 11.00 $2,035.00 Average cost January 25 January 30 K Required 1 Required 3 > Prev | 100, 111 of 11 H, Next > nt uhe tusl assigied to ending inventory and to cost of goods sold using LIFO Complete this questions by entering your answers in the below tabs. Required1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. Cost of Goods Sold Inventory Balance | Cost per unit Cost per Inventory #of units cost per unit # of units sold Cost of Goods Sold ! #Of units unit Date January 1 185$ 11.00$2.035.00 January 20 January 25 January 30 Next>
