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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
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 Specific Identification Data January 20 purchase, and 15 units from beginning inventory. 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. (Use cells A2 to L12 from the given information to complete this question.) 4. Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. (Use cells A2 to L12 from the given information to complete this question.)
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