Chapters 4, 5, 6) Saved Help Save & Exit Required information Use the following information for the Exercises below. [The 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 Acquired at Cost Units sold at Retail 175 units @ $10.00 = $1,750 135 units @ $19.00 130 units @ $ 9.00 = 1,170 140 units @ $19.00 275 units @ $ 8.00 = 2,200 580 units $5, 120 275 units Exercise 5-5A Periodic: Inventory costing LO P3 Required: The Company uses a periodic inventory system. For specific identification, ending inventory consists of 305 units, where 275 are the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory. Determine the cost assigne endina inventorv and to cost of coods sold usina (a) specific identification. (b) weighted average. (c) FIFO, and (d) LIFO. Chapters 4, 5, 6) Saved Help Save & Exit Required information Complete this questions by entering your answers in the below tabs. Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using specific identification. For specific identification, ending 305 units, where 275 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory. -25 a) Specific Identification Ending Inventory Cost of Goods Available for Sale Cost of Goods Sold Cost of Goods # of units Cost per Cost of per Available for # of units Cost per unit I Sale sold unit Goods Sold 175 $ 10.00 $ 1,750 # of units in ending inventory Cost per unit Ending Inventory Beginning inventory Purchases: Jan. 20 This is a numeric cell, so please enter numbers only. Jan. 30 Total 175 $ 1,750 $ 0 $ 0 Specific ld Weighted Average > Chapters 4, 5, 6) Saved Help Save & Exit Required information nding inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (C) FIFO, and (d) LIFO. Complete this questions by entering your answers in the below tabs. Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal place b) Average Cost Cost of Goods Available for Sale Average Cost of Goods # of units Cost per Available for unit Sale 175 $ 1,750 Cost of Goods Sold # of units Average Cost of sold Cost per Unit Goods Sold Ending Inventory # of units Average Ending in ending Cost per inventory Inventory unit Beginning inventory Purchases: Jan. 20 Jan. 30 Total 175 $ 1,750 $ 0 Specific Id FIFO > Chapters 4, 5, 6) Saved Help Save & Exit Required information nding inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (C) FIFO, and (d) LIFO. Complete this questions by entering your answers in the below tabs. Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. c) FIFO Cost of Goods Available for Sale Cost of Goods Sold Cost of Goods # of units Cost Cost per "Available for # of units Cost per Cost of Sale | sold unit Goods Sold 175 10.00 $ 1,750 Ending Inventory # of units in ending Cost Ending inventory per unit Inventory unit Beginning inventory Purchases: Jan. 20 Jan. 30 Total 175 $ 1,750 0 $ 00$
