Could someone explain to me what I am doing wrong with the average cost per unit etc?
Required information Use the following information for the Exercises below. [The folio wing information applies to the questions displayed below] Laker Company reported the following January purchases and sales data for its only product. Units sold at Date Activities Units Acquired at Cost Retail Jan. 1 Beginning inventory 140 units 9 $6.00= $ 840 Jan. 10 Sales 100 units E $ 15 Jan. 20 Purchase 60 units 9 $5.00 = 300 Jan. 25 Sales 80 units E $ 15 Jan. 30 Purchase 180 units 9 $4.50 = 810 Totals 380 units $1,950 180 units ' Exercise 5-5A Periodic: Inventory costing LO P3 Required: 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. Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identication, (b) weighted average, (c) FIFO, and (c0 LIFO. 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 places b) Average Cost Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of Average Cost of # of Average Cost of # of units Average units Cost per Goods units Cost per Ending unit Available Goods in ending Cost per for Sale sold Unit Sold inventory unit Inventory Beginning inventory 140 840 Purchases: Jan. 20 60 300 Jan. 30 180 810 Total 380 $ 5.40 X $ 1,950 180 v $ 5.70 X $ 1,026 200 $ 5.50 X $ 1, 100Complete 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 Ending Inventory # of Cost Cost of # of Cost Cost of # of units Cost units per Goods unit Available units per Goods in ending per Ending for Sale sold unit Sold inventory unit Inventory Beginning inventory 140 6.00 $ 840 O X 140 X $ 6.00 $ 840 Purchases: Jan. 20 60 5.00 300 O X 100 X $ 5.00 500 Jan. 30 180 4.50 810 OV 200 $ 4.50 900 Total 380 $ 1,950 0 $ 0 440 $ 2,240Complete 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 LIFO. d) LIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of Cost Cost of # of Cost Cost of # of units Cost per Goods units Available units per Goods per unit in ending Ending for Sale sold unit Sold inventory unit Inventory Beginning inventory 140 6.00 $ 840 OV 165 X $ 6.00 $ 990 Purchases: Jan. 20 60 5.00 300 OV 40 X $ 5.00 200 Jan. 30 180 4.50 810 25 X $ 4.50 113 Total 380 $ 1,950 0 $ 0 230 $ 1,303
