FIFO:

Date

Goods Purchased

Cost of Goods Sold

Inventory Balance

# of units

Cost per unit

# of units sold

Cost per unit

Cost of Goods Sold

# of units

Cost per unit

Inventory Balance

January 1

185

at

$11.00

=

$2,035.00

January 10

?

?

?

?

January 20

?

?

Average cost of January 20

?

January 25

?

?

?

?

January 30

?

?

Totals

?

Laker Company reported the following January purchases and sales data for its only product. The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 270 units from the January 30 purchase, 5 units from the January 20 purchase, and 10 units from beginning inventory.

Date	Activities	Units Acquired at Cost						Units sold at Retail
January 1	Beginning inventory	185	units	@	$ 11.00	=	$ 2,035
January 10	Sales							145	units	@	$ 20.00
January 20	Purchase	100	units	@	$ 10.00	=	1,000
January 25	Sales							125	units	@	$ 20.00
January 30	Purchase	270	units	@	$ 9.50	=	2,565
	Totals	555	units				$ 5,600	270	units

Fegulred btiormablon anchase, 5 uves tren the d aneary 20 puchate, and 10 anige fron asg aning invoreay. C. Cetarnine the cest ess geed to ending in etery and te cest of peses ack uning weighted ovenope