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Laker company reported the following January purchases and sales data for its only product the company uses perpetual inventory system. For specific identification ending inventory
Laker company reported the following January purchases and sales data for its only product the company uses perpetual inventory system. For specific identification ending inventory consist of 270 units from the January 30 purchase five units from the January 20 purchase and 15 units from beginning inventory
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 270 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Required: 1. Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identificatic 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. Specific Id Complete the table to determine the cost assigned to ending inventory and cost of gooda sold using specific identification. Average Weighted Average > (1) Rirquired information Defurmine the cust askighed tu ending inyenfory ard to cost of goods seld using tifo Step by Step Solution
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