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Laker Company reported the following January purchases and sales data for its only product. For specific identification, Determine the cost assigned to ending inventory and
Laker Company reported the following January purchases and sales data for its only product. For specific identification, Determine the cost assigned to ending inventory and to cost of goods sold using weighted average.
Note: Round cost per unit to decimal places. Weighted
Average
FIFO
LIFO
Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. Complete this question by entering your answers in the tabs below.
Weighted
Average
FIFO
LIFO
Determine the cost assigned to ending inventory and to cost of goods sold using LIFO.
ending inventory consists of units from the January purchase, units from the January purchase, and units
from beginning inventory.
Exercise A Algo Periodic: Inventory costing LO P
The Company uses a periodic inventory system. For specific identification, ending inventory consists of units from the January
purchase, units from the January purchase, and units from beginning inventory. Determine the cost assigned to ending
inventory and to cost of goods sold using
a specific identification,
b weighted average,
c FIFO, and
d LIFO.
Complete this question by entering your answers in the tabs below.
Specific Id
Weighted
Average
FIFO
LIFO
Determine the cost assigned to ending inventory and to cost of goods sold using weighted average.
Note: Round cost per unit to decimal places.
b Weighted average Periodic
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