Exercise 5-3 Perpetual: Inventory costing methods LO P1

[The following information applies to the questions displayed below.]

Laker Company reported the following January purchases and sales data for its only product.

Exercise 5-3 Perpetual: Inventory costing methods LO P1 {le foiu'o wing r'nfonnetihn applies to the questions displayed below} Laker Company reported the following January purchases and sales data for Its only product. Date Acvl'es Uns AcquIred at Cast Unlts sold at Reta" Jan. 1 aeglnnlng Inventory 140 units @ $5.00 = $ 840 Jan. 10 Sales 100 units @ $15 Jan. 20 Purchase 50 units @ 5 5.00 = 300 Jan. 25 Sales 30 units @ $15 Jan. 30 Purchase 130 units a $ 4.50 = 810 Totals 330 units $1350 130 units Required: The Company uses a perpetual inventory system. For specic Identification. ending Inventory consists of 200 unitsr where 180 are from the January 30 purc i'Iaser 5 are from the January 20 purchase, and 15 are from beginning Inventory. Referenoes Section Break Exercise 5-3 Perpetual: Inventory costing methods LO P'l 11. value: 0313' points Hequlred hforrnaon I (Round cost per unit to 2 decimal places.) Spaclfll: Idarl'callan --m--- --i--- 12. value: ll'd m 0.90 points M" ' Exercise 5-3 Part 2 2. Determine the seat assigned to ending inventory and to 0051'. of goods sold using weighted average; [Round cost per unit to 2 decimal places.) Mghted Average - Perpetual: -I--I-I-Im --I-!I!!! _-I--I-II-I_ --I--I-II-I- Exercise 5-3 Part 3 3. Determine the met essig ned to ending intrienteirl.I and to east of goods said using FIFO. [Round cost per unit to 2 decimal places.) Exercise 5-3 Part 4 4. Determine the dust assigned to ending inventory and to last of goods sold using LIFO. (Round cost per unit to 2 decimal places.) P_erpntual LIFO: -l-m= _-------_I - --=--I--I