dont understand anything about accounting ! I need help with my work! thank you!
Required information 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 Units Acquired at cost Dan. 1 inventory Jan. 10 Sales Jan. 20 Purchase Jan.25 Sales an. 30 Purchase30 units@ $11.00 3,300 Retail Beginning 280 units@ $12.50- $2,50 160 units@ $21.5 130 units@$11.50-1,495 140 units@ $21.50 Totals 630 units $7,295 300 units Required The Company uses a periodic inventory system. For specific identification, ending inventory consists of 330 unts, where 300 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from ending inventory and to cost of goods sold using ( specific identification. (o) weighted average, (d FiFO, and (oh LiFo beginning inventory Determine the cost assigned to Complete this questions by entering your answers in the below tabs. Specific ld Weighted Determine the cost assigned to ending inventory and to cost of goods sold using specif a) Specific Identification Cost of Goods Available for Sale FIFO LIFO c identification. For specific identification, ending inventory consists of 300 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory Ending Inventory of units | Cost : Ending Cost of Goods Sold Cost of Goods in endins | Cost Ending #0f units cost per : . Cost of # of units unit unit Goods Sold Sale inventory Beginning inventory Purchases Jan 20 Jan 30 Total Weighted Average > Specific Id Weighted Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unt to 2 decimal places.) b) Average Cost Specific Id Average LIFO Cost of Goods Available for Sale Cost of Goods Sold AverageCost of Goods Cost of Goods : # of units : Cost per Goods Sold Average Cost of in ending Cost per Inventory # of units | Average | Ending # of units | Cost per | Available for unit Sale Unit inventoryunit Beginning inventory Purchases Jan 20 Jan 30 Total Specific ld FIFO ) Specific Id Weighted LIFO Average FIFO Determine the cost assigned to ending inventory and to cost of goods sold using FIFO Cost of Goods Available for Sale # of units Cost per Goods c) FIFO Cost of Goods Sold Ending Inventory | Cost | Ending Cost of Goods | # of units | Cost per | Cost of ld I in ending Perunit | Inventory #of units | Cost per | Cost of |# of units unit Goods Sold I in ending Availablefer Sale unit sold inventory per unit Inventory Beginning inventory Purchases Jan. 20 Jan. 30 Total K Weighted Average LIFO > Specific Id Weighted 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 Cost of Goods | # of units | Cost Available for sold | Cost | Ending ost per Cost of in ending er unit Inventory tper| Cost of |#0f units unit Goods Sold in ending # of units | Cost per Cost of Goods unit Sale Beginning inventory Purchases Jan 20 Jan. 30 Total FIFO
