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Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of 3 8 5 units
Laker Company reported the following January purchases and sales data for its only product. For specific identification,
ending inventory consists of units from the January purchase, units from the January purchase, and units
from beginning inventory.
Assume the perpetual inventory system is used.
Required:
Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification.
Determine the cost assigned to ending inventory and to cost of goods sold using weighted average.
Determine the cost assigned to ending inventory and to cost of goods sold using FIFO.
Determine the cost assigned to ending inventory and to cost of goods sold using LIFO.
Complete this question by entering your answers in the tabs below.
Specific
Weighted
Average
FIFO
LIFO
Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification.
PLEASE DO ALL CHARTS
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