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Help!!!! HELP Required information Use the following information for the Exercises below. The following information applies to the questions displayed below. Laker Company reported the
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Required information Use the following information for the Exercises below. 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 Beginning 235 units$16.00- 3,760 inventory Jan. 1 Jan. 10 Sales 200 unitse$25.00 Jan. 20 Purchase 180 unitse15.002,700 Jan. 25 Sales 190 unitse$25.00 Jan. 30 Purchase 390 unitse$14.505,655 805 units $12,115 390 units Totals Exercise 5-3 Periodic: Inventory costing methods LO P1 Required The Company uses a periodic inventory system. For specific identification, ending inventory consists of 415 units, where 390 are from the January 30 purchase, 5 are from the January 20 purchase, and 20 are from beginning inventory. Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c) FIFO, and (a) LIFO Complete this question by entering your answers in the tabs below Specific Weighted FIFO Id LIFO Average Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal places.) Cost of Goods Available b) Weighte Cost of Goods Sold Ending Inventory for Sale verage Average cost of Cost of # of Average ost #of Ending Goods per unit Available units Sale Goods units in Average Cost Sold ending inventor units r unit Invento Sold per G Beginning inventory Purchases Jan. 20 Jan. 30 Total 0 FIFO > K Specific IdStep by Step Solution
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