Check my wor Use the following information for the Exercises below. (The following information apples to the questions displayed below.) Laker Company reported the following January purchases and sales data for its only product Units sold at Retail Units Required at Cost 165 unita $9.00 - $1,485 125 units 518.00 Date Activities Jan. 1 teginning inventory Jan. 10 Salon Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 110 units $8.00 - 080 125 unita $10.00 230 unita 57.50 - 505 unita 1,725 $4,090 250 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 255 units, where 230 are from the January 30 purchase, 5 are from the January 20 purchase, and 20 are from beginning inventory Exercise 6-3 Perpetual: Inventory costing methods LO P1 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. Exercise 6-3 Perpetual: Inventory costing methods LO P1 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 1 Required 2 Required 3 Required 4 moes Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification, Specific Identification Available for Sale Cost of Goods Sold Ending Inventory Unit Ending Ending Units Cost Per Purchase Date Activity Unit Cost Units COGS Cost Sold Inventory Inventory Unit Units Coot Jan 1 Beginning inventory 165 Jan. 20 Purchase 110 Jan. 30 Purchase 230 505 0 5 0 0 $ Required 2 > Complete this questions by entering your answers in the below tabs. Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit Weighted Average - Perpetual: Goods Purchased Inventory Balance Cost of Goods Sold Cost per Cost of unit Goods Sold Cost per # of units # of units sold Cost per unit Date # of units Inventory Balance unit 165 @ $ 9.00 - $1,485.00 January 1 January 10 January 20 Average cost January 25 January 30 Totals Perpetual FIFO: Goods Purchased Cost of Goods Sold Inventory Balance Date #of units Cost per unit # of units sold Cost per Cost of Goods unit Sold # of units January 1 Cost per Inventory unit Balance $ $ 9.00 = 1,485.00 165 January 10 January 20 January 25 January 30 Totals Required information Perpetual LIFO: Goods Purchased # of units unit Date Cost per Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Inventory Balance of units Cost par inventory unit Balance 165 $ $ 9.00 - 1.485.00 January 1 January 10 January 20 January 25 es January 30 Totals (Required 3
