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I cant find my mistake. Can someone please help? Chapter 5 Exercises MHE Reader Check my Required information (The following information applies to the questions
I cant find my mistake. Can someone please help? Chapter 5 Exercises MHE Reader Check my 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 Acquired at Cost 205 units@ $13.00 = $2,665 Units sold at Retail Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 140 units@ $12.00 = 1,680 165 units @ $22.00 145 units @ $22.00 310 units@ $11.50 = 655 units 3,565 $7,910 310 units The Company uses a perpetual 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. 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 vour answers in the tabs below. Required information Required 1 Required 2 Required 3 Required 4 Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. (Round places. Specific Identification Available for Sale Cost of Goods Sold Purchase Date Activity Units Unit Cost Units Sold Unit Cost COGS Jan. 1 Jan. 20 390 Beginning inventory Purchase Purchase 205 $ 13.00 140 $ 12.00 310S 11.50 655 1 65 10 135 310 $ 13.00 $ 12.00 $ 11.50 $ $ $ Ending Inventory Ending Ending Cost Per Inventory. Unit Inventory. Units Cost 30 $ 13.00 $ 5 12.00 $ 310 $ 11.50 $ 3,565 345 4,015 2,145 120 1,553 Jan. 30 $ 3.818 Required 2 >
I cant find my mistake. Can someone please help?
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