perpetual: inventory costing

Required Information Use the following information for the Exercises below. [The following information applies to the questions displayed below.) Laker Company reported the following January purchases and sales data for its only product. Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 21e units@ $13.50 - $2,835 Jan. 10 Sales 168 units $22.50 Jan. 20 Purchase 150 units $12.50 = 1,875 Jan. 25 Sales 188 units @ $22.50 32e units $12.00 - 3,840 Totals 680 units $8,550 340 units Date Jan. 30 Purchase The Company uses a perpetual inventory system. For specific identification, ending Inventory consists of 340 units, where 320 are from the January 30 purchase. 5 are from the January 20 purchase, and 15 are from beginning inventory Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per Weighted Average - Perpetual: Goods Purchased Cost of Goods Sold Inventory Balance Date # of # of Cost per Cost of Goods units units unit Inventory #of units unit sold Sold unit Balance January 1 210 @ $13.50 = $2,835,00 January 10 January 20 Cost per Cost per Average cost January 25 January 30 Totals # of Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO: Goods Purchased Cost of Goods Sold Inventory Balance Date # of units Cost per Cost of Goods Cost per Inventory units unit sold unit Sold # of units unit Balance S January 1 210 $ 13,50 = 2,835.00 January 10 January 20 Cost per 20:26 January 25 January 30 January 25 January 30 Totals Required Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. Perpetual LIFO: Goods Purchased # of Cost per units unit Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Date Inventory Balance # of units Cost per Inventory unit Balance S 210 @ $13.50 = 2,835.00 January 1 January 10 January 20 January 25 January 25 January 30 Totals