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ONLY THE BLUE HIGHLIGHTED ONES NEED TO BE FILLED OUT. thank you Exercise 5-3 Perpetual: Inventory costing methods LO P1 applies to the questions displayed
ONLY THE BLUE HIGHLIGHTED ONES NEED TO BE FILLED OUT. thank you
Exercise 5-3 Perpetual: Inventory costing methods LO P1 applies to the questions displayed below] Laker Company reported the following January purchases and sales data for its only product Units Acquired at Cost Units sold at Retall 40 units $17.00 245 units $17.00 Activities Date Jan. 1 Beginning Inventory 250 unlts $ 9.00 - $ 2,250 Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase 320 unlts $8.002,560 190 units @ $700= 1.330 760 units Totals 6140 385 units Required: The company uses a perpetual Inventory system. For specific identification, ending Inventory consists of 375 units, where 190 are from the January 30 purchase, 80 are from the January 20 purchase, and 105 are from beginning inventoryStep by Step Solution
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