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Return to question 3 O Part 1 of 2 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. The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 180 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. 3 3 points Units Acquired at Cust 140 units $ 6.00 - Units sold at Retail $ 840 100 units Date SY 1 January 10 January 20 January 25 January 30 Activities Beginning inventory Sales Purchase Sales Purchase Totals 60 units F $ 5.00 - 300 & $ 15 $ $ 15 80 units S 4.50 - 180 units 380 units 810 $ 1,950 180 units 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Carita Weighted ETER ITEM | Mc Graw Hill Return to question 3 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. Part 1 of 2 - 3 3 points Answer is not complete. Complete this question by entering your answers in the tabs below. Specific id Weighted Average FIFO LIFO Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. Purchase Date Available for Sale Activity of units Beginning 140 inventory Purchase 60 Purchase 180 Specific Identification Cost of Goods Sold Cost # of # Cost Per units Per COGS Unit sold Unit $ 6.00 $ 125 $ 6.00 S 750 $ $ 5.00 55 $ 5.00 $ 275 $ 4.50 0 180 1,025 January 1 Ending Inventory Ending Cost Ending Inventory- Per Inventory- Units Unit Cost 90 X $ 6.00 $ 540 25 $ 5.00 X 125 810 $ 4.50 3,645 925 $ 4.310 January 20 January 30 380 Specific ld Welghted Average > Mc Graw ! Hill" Return to question WAISTCI 12 TIUL LIMPICLE 3 Required information Part 1 of 2 Specific la 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.) 3 3 points Goods Purchased Weighted Average - Perpetual: Cost of Goods Sold Cost # of units Cost of Goods sold per unit Sold Date Cost per unit # of units Inventory Balance Cost Inventory per # of units Balance unit 140 at $ 6.00 E $ 840.00 January 1 January 10 100at S 15.00 IS 1,500.00 40 a at IS 15.00 $ 600.00 60 at $ 5.00 40 at January 20 $ 600.00 300.00 60 IS 15.00 S 5.00 IS 15.00 at = Average cost January 20 100 at x $ 900.00 January 25 80 at January 30 Totals S 1,500.00 | Mc Graw Hill Return to question ----I-E-ILI------ AL-I-L-L-I--- 3 Required information Specific id Weighted Average FIFO LIFO Part 1 of 2 Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. 3 points Perpetual FIFO: Cost of Goods Sold # of units Cost per Cost of Goods sold Sold unit Goods Purchased Cost # of units per unit Date Inventory Balance Cost # of units Inventory per Balance unit 140 at $6.00 E $ 840.00 January 1 $ January 10 January 20 Tolal January 20 January 25 Tolal January 25 January 30 Totals Mc Graw Hill Return to question 3 Required information Specific ld Weighted Average FIFO LIFO Part 1 of 2 Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. 3 points Perpetual LIFO: Cost of Goods Sold Cost # of units Cost of sold per unit Goods Sold Goods Purchased Cost # of units per unit Date Inventory Balance Cost #of units per Inventory unit Balance S 140 at $6.00 = 840.00 January 1 January 10 January 20 Total January 20 January 25 Total January 25 January 30 Tolals Mc Graw Hill