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Posted on Sep 07, 2024

HOW TO DO THIS? Required Information (The following information applies to the questions displayed below) Laker Cornpany reported the following January purchases and sales data

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Required Information (The following information applies to the questions displayed below) Laker Cornpany reported the following January purchases and sales data for its only product. Date Activities Jan. 1 Beginning inventory Jan. 19 Sales Jan. 20 Purchase Dan. 25 Sales Jan. 30 Purchase Totals Units sold at Units Acquired at Cost Retail 205 units@ $13.00 - $2,665 165 units@ $22.00 140 units@ $12.00= 1,680 145 units@ $22.00 310 units@ $11.5@- 3,565 655 units $7,910 310 units Required: The Company uses a periodic inventory system. For specific identification, ending Inventory consists of 345 units, where 310 are from he January 30 purchase, 5 are from the January 20 purchase, and 30 are from beginning Inventory. Determine the cost assigned to ending Inventory and to cost of goods sold using a specific Identification, (weighted average, (FIFO, and ( LIFO. Complete this questions by entering your answers in the below tabs. Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using specific identification. For specific identification, ending inventory consists of 345 units, where 310 are from the January 30 purchase, 5 are from the January 20 purchase, and 30 are from beginning inventory. a) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost per # of units Cost of Goods Available for Sale # of units sold Cost per Cost of Goods Sold # of units in ending inventory Cost unit Ending per unit Inventory Beginning inventory Purchases Jan. 20 Jan 30 Total Special Weighted Average > Prev 3 of 3 Next Requlred Information The flowing armaten bpples to the questions fiscayed below! Laker Company reported the following January purchases and sales data for its only prohbet Units sold at Date Activities Units Acquired at Gast Retail Beginning Dan. inventory 205 units@ $13.00 = $2,665 Jan. 10 Salles Balles 169 units@ $22.00 Jan. 20 Purchase 140 units@ $12.00 - 1,680 Jan. 25 Sales 145 units@ $22.00 Jan. 30 Purchase 310 units@ $11.50= 3.565 28 Totals 655 units $7.910 B10 units LA Required: The Company uses a periodic Inventory system. For specific identification, ending Inventory consists of 345 units, where 310 are from he January 30 purchase, 5 are from the January 20 purchase, and 30 are from beginning inventary. Determine the cost assigned to ending Inventory and to cost of goods sold using a specific identification, (weighted average, (9FIFO, and UFO. Complete this questions by entering your answers in the below tabs. Speafic Id Weighted Average FIFO LIFO Determine the cost assigned tu ending inventory and to cost of goods sold using FIFO. ) FIFO Cost of Goods Sold Cost of Goods Available for Sale Cost of Goods # of units Available for unit Sale Cost per # of units sold Cost per unit Cost of Ending Inventory #ot units Cost Ending per unit Inventory Goods Sold in ending inventory Beginning inventory Purchases Jan. 20 Jan. 30 Total 0 $ 0 Weighted Average LIFO > Piev 3 of 3 Next Search 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. Date Activities Beginning Jan. 1 inventory Jan. 10 Sales Jan.20 Purchase Jan.25 Sales Jan. 30 Purchase Totals Units sold at Units Acquired at Cost Retail 205 units@ $13.00 -- $2,665 165 units@ $22.00 140 units@ $12.00= 1,680 145 units@ $22.00 310 units@ $11.50 = 3,565 655 units $7,910 310 units Required: The Company uses a periodic inventory system. For specific Identification, ending Inventory consists of 345 units, where 310 are from the January 30 purchase, 5 are from the January 20 purchase, and 30 are from beginning inventory. Determine the cost assigned to ending Inventory and to cost of goods sold using (a) specific identification, (6) weighted average, (9FIFO, and (LIFO. Complete this questions by entering your answers in the below tabs. Speatic Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. dj UFO Cost of Goods Available for Sale Cost of Goods Sold Cost of Goods # of units Cost per Cost of # of units unit sold unit Goods Sold Sale Ending Inventory # of units Cost Ending in ending per unit Inventory inventory Cost per Available for Beginning inventory Purchases Jan. 20 Jan. 30 Total 0 $ (FIFO Prev 3 of 3 Next