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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. 1 of 2 Date Units sold at Retail Units Acquired at Cost 165 units @ $9.00 - $1,485 125 units @ $18.00 Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 110 units @ $8.00 = 880 125 units @ $18.00 230 units @ $7.50 = 505 units 1,725 $4,090 250 units Book Hint The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 255 units, where 230 are from the January 30 purchase, 5 are from the January 20 purchase, and 20 are from beginning inventory. Print erences 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. Hatermine thernet accionarito anrinn inventor anntornet nt nnnnc colri licin Ainhton avarana Required information Complete this question by entering your answers in the tabs below. 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 cost per unit to 2 decimal places.) Specific Identification Available for Sale Cost of Goods Sold Purchase Date Ending Inventory Ending Cost Per Ending Inventory- Inventory Unit Units Cost Activity Unit Cost Units Units Sold Unit Cost COGS 165 Jan. 1 Jan. 20 Jan. 30 Beginning inventory Purchase Purchase 110 230 505 2 Required information Required 1 Required 2 Required 3 Required 4 Part 1 of 2 -5 Oints elemeler.cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal plac Determine the cost Weighted Average - Perpetual: Goods Purchased Cost of Goods Sold Inventory Balance # of # of Cost per Date Cost per Cost of Goods Inventory # of units units units unit unit Sold sold unit Balance January 1 165 @ $ 9.00 = $ 1,485.00 January 10 Cost per eBook Hint Print References January 20 Average cost January 25 January 30 Totals Required information 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 # of Cost per # of units Cost per Cost of Goods Date Cost per Inventory # of units units unit sold unit Sold unit Balance January 1 165 @ $ 9.00 = $ 1,485.00 January 10 January 20 January 25 January 30 Totals Required 2 Required 4 > Required information Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. (Round cost per unit to 2 decimal places.). Perpetual LIFO: Goods Purchased # of Cost per units unit Cost of Goods Sold # of units Cost per Cost of Goods sold unit Cost per Date Sold Inventory Balance # of units Inventory unit Balance 165 @ S 9.00 - $ 1,485.00 January 1 January 10 January 20 January 25 January 30 Totals
