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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 226 units, where 180
Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of 226 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 41 are from beginning inventory.
Determine the cost assigned to ending inventory and to cost of goods sold using specific identification. For specific identification, ending inventory are from the January 30 purchase, 5 are from the January 20 purchase, and 41 are from beginning inventory. Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. Note: Round cost per unit to 2 decimal places. etermine the cost assigned to ending inventory and to cost of goods sold using FIFO etermine the cost assigned to ending inventory and to cost of goods sold using LIFO
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