having some trouble completing this question
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. Units sold at Date Activities Units Acquired at cost Retail Jan. 1 beginning inventory 140 units 36.00 $ 840 Jan. 10 Sales 100 units $15 Jan. 20 Purchase 60 units. $5.00 300 Jan. 25 Sales 80 unita $15 Jan. 30 Purchase 180 units! $4.50 - 810 Totale 380 units $1,950 180 units The Company uses a perpetual 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 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 question by entering your answers in the tabs below. Required Required 2 Required 3 Required 4 Cost per Required 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 un Weighted Average - Perpetual: Goods Purchased Cost of Goods Sold Inventory Balance #of of Cost per Inventory Cost per Cost of Goods Date units # of units units unit unit Sald unit Balance sold January 140 $ 6.00 $ 840.00 January 10 100 $ 6.00 600.00 40 $ 6.00 $ 240.00 January 20 B01 $ 5.00 401 $ 6.00 $ 240.00 60 @ $ 5.00 = 300.00 Average cost 1001 $ 5.40 $ 540.00 January 25 80 $ 5.40 = $ 432.00 20 @ $ 5.40 $ 108,00 January 30 1801 $ 450 20 @ $ 5.40 - $ 108.00 180 @ $ 4.50 = 810.00 Totals $ 1,032.00 200 @ $ 918.00 Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. (Round cost per unit to 2 decimal places.) Perpetual FIFO Goods Purchased Cost of Goods Sold Inventory Balance Date # of units Cost per Cost of Goods Cost per Inventory units unit sold unit Sold # of units unit Balance January 1 140 @ $ 6.00 = $ 840.00 Cost per January 10 100 $ 6.00 - $ 600.00 40 @ $ 6.00 - $ 240.00 January 20 60 $5.00 40 @ $ 240,00 $ 6.00 - $ 5.00 = 60 300.00 $ 540.00 January 25 $ 6.00 $ 240.00 $ 6.00 - 40 40 $ 5.00 200.00 20 @ $5.00 - $ 100.00 $ 440.00 $ 100.00 January 30 180 e $ 4,50 20 @ 180 @ $ 6,00 $ 5.00 - $ 4,50 = 100.00 810.00 Tools $ 1,040.00 $ 910.00 cost per unit to 2 decimal places.) Perpetual LIFO Date Goods Purchased of Cost per units unit Cost of Goods Sold of units Cost per Cost of Goods sold unit Sold Inventory Balance Cost per Inventory of units unit Balance 140 $ 6.00 = S 840.00 January 1 January 10 100 $ 6.00 $ 600,00 40 $ 6.00 - $ 240,00 January 20 50 $ 5.00 401 $ 6.00 - $240.00 80 @ $5.00 - 300.00 $ 540.00 January 25 20 $ 6.00 $ 120.00 $ 6.00 = $120.00 60 @ $ 5.00 300.00 20 @ 60 $5.00 - $300.00 $ 420.00 $ 420.00 January 30 180 $ 4.50 $ 6.00 $120.00 20 60 $ 5.00 $ 450 1801 Totais 300.00 810.00 $ 1,230.00 $1,020.00
