can't figure out what i am doing wrong / have to fill in specific id - lifo
Required information Use the following information for the Exercises 3-7 below. (Static) {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 200 units, where 180 are from the January 30 purchase. 5 are from the January 20 purchase, and 15 are from beginning inventory Units sold at Date Activities Units Acquired at Cost Retail Jan. 1 Beginning inventory 140 units @ $6.00 = $ Jan. 10 Sales 100 units @ $ 15 Jan. 20 Purchase 60 units @ $5.00 = Jan. 25 Sales 80 units @ $ 15 Jan. 30 Purchase 180 units @ $4.50 = 810 Totals 380 units $1,950 180 units 840 300 Exercise 5-3 (Static) Periodic: Inventory costing methods LO P1 Required: Determine the cost assigned to ending inventory and to cost of goods sold using (o) specific identification (6) weighted average, la FIFO, and (c) LIFO Complete this question by entering your answers in the tabs below. Specific to Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using specific identification. For specific identification, ending inventory consists of 200 units, where 180 are from the January 30 purchases are from the January 20 purchase, and 15 are from beginning inventory Specific to Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using specific identification For specific identification, ending inventory consists of 200 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory Specific identification Cost of Goods Available for Sale Cost of Goods Sold Cost of Goods Wof units Cost per Available for Cost of of units unit sold unit Goods Sold Sale 1401 $ 500 5 800 Cost per Ending Inventory #of units Cost in ending Ending per unit Inventory inventory Beginning inventory Purchases Jan 20 Jan 30 To 60 $ 5.00 180 $ 450 380 300 810 1950 ol 0 $ 0 5 Weighted Average > Required information Specific 1 Weighted FIFO LIFO Average 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) Weighted average - Periodic Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Average Cost of Goods Average of units Average of units Cost per Available for of units Cost of sold Ending Cost Sale in ending Unit Goods Sold inventory per unit Inventory Being vertory 140 MO Pachuses Jan 20 60 300 Jan 30 180 010 Total 30 $ 5 $ 0 Cost per unit 1.950 View previous attempt Check my work Required information Specific la Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. Periode FIFO Cost of Goods Available for Sale Cost per Cost of Goods # of units Available for unit Sale 140 6.00 5 MO Cost of Goods Sold of units Cost per Cost of sold unit Goods Sold Ending Inventory of units Cost Ending in ending inventory per unit Inventory Beginning inventory Purcha Jan 20 Jan 30 50 100 380 5.00 450 300 110 1950 $ 0 $ 0 $ Weighted Average LIFO > Required information Cost per Weighted Specific la FIFO LIFO Average Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. d) Periodic LIFO Cost of Goods Available for Sale Cost of Goods Sold Cost of Goods W of units Available for # of units Cost per Cost of unit sold Sale unit Goods Sold Beginning inventory 140 6.00 $ 840 Purchases Jan 20 60 5.00 300 Jan 30 180 450 8101 T 380 1.950 0 $ 0 Ending Inventory # of units Cost Ending in ending Inventory Inventory per unit $ 0 $ 0 FIE
