Laker Company reported the following January purchases and sales data for its only product. Date Units Sold at Retail Units Acquired at Cost 140 units @ $6.00 = $ 840 Activities Beginning inventory Sales. Purchase ... Sales......... Purchase. Totals.. Jan. 1 Jan. 10 Jan. 20 Jan. 25 Jan. 30 100 units @ $15 60 units @ $5.00 - 300 B0 units @ $15 180 units a $4.50 810 $1.950 380 units 180 uni Required The company uses a perpetual inventory system. 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. (Round per unit costs and inventory amounts to cents.) For specific identification, ending inventory consists of 200 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. Check LIFO. S E Refer to the information in Exercise 5-3 and assume the periodic inventory system is used. Determine the costs assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c) FIFO, and (d) LIFO. (Round per unit costs and inventory amounts to cents.) For specific identification, ending inventory consists of 200 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory Laker Company reported the following January purchases and sales data for its only product. Date Units Sold at Retail Units Acquired at Cost 140 units @ $6.00 = $ 840 Activities Beginning inventory Sales. Purchase ... Sales......... Purchase. Totals.. Jan. 1 Jan. 10 Jan. 20 Jan. 25 Jan. 30 100 units @ $15 60 units @ $5.00 - 300 B0 units @ $15 180 units a $4.50 810 $1.950 380 units 180 uni Required The company uses a perpetual inventory system. 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. (Round per unit costs and inventory amounts to cents.) For specific identification, ending inventory consists of 200 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. Check LIFO. S E Refer to the information in Exercise 5-3 and assume the periodic inventory system is used. Determine the costs assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c) FIFO, and (d) LIFO. (Round per unit costs and inventory amounts to cents.) For specific identification, ending inventory consists of 200 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory
