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Please answer the question using the graph and not a sentence. It helps me. Laker Company reported the following January purchases and sales data for
Please answer the question using the graph and not a sentence. It helps me.
Laker Company reported the following January purchases and sales data for its only product. Units sold at Retail Units Acquired at Cost 205 units @ $13.00 = $2,665 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase 165 units @ $22.00 140 units @ $12.00 = 1,680 145 units @ $22.00 310 units @ $11.50 = 655 units 3,565 $7,910 Totals 310 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 345 units, where 310 are from the January 30 purchase, 5 are from the January 20 purchase, and 30 are from beginning inventory. Required: 1. Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. 2. Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. 3. Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. 4. Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. (Round cost per u places.) Specific Identification Available for Sale Cost of Goods Sold Ending Inventory Ending Ending Cost Per Inventory- Inventory- Unit Units Cost Activity Unit Cost Units Purchase Date Units Sold Unit Cost COGS Jan. 1 205 Beginning inventory Purchase Purchase 140 Jan. 20 Jan. 30 310 655 0 $ 0 0 Jan. 25 Sales Jan. 30 Purchase 145 units @ $22.00 310 units @ $11.50 = 655 units Totals 3,565 $7,910 310 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 345 units, where 310 are from the January 30 purchase, 5 are from the January 20 purchase, and 30 are from beginning inventory. Required: 1. Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. 2. Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. 3. Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. 4. Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal places Weighted Average - Perpetual: Goods Purchased Cost of Goods Sold Inventory Balance Cost per Cost per Date # of units # of units sold Cost per Cost of Goods unit Sold # of units Inventory Balance unit unit January 1 205 @ $ 13.00 = $ 2,665.00 January 10 January 20 Average cost January 25 January 30 Jan. 30 Purchase 145 units @ $22.00 Totals 310 units @ $11.50 = 655 units 3,565 $7,910 310 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 345 units, where 310 are from the January 30 purchase, 5 are from the January 20 purchase, and 30 are from beginning inventory. Required: 1. Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. 2. Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. 3. Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. 4. Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. s Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. (Round cost per unit to 2 decimal places.) Perpetual FIFO: Goods Purchased Cost of Goods Sold Inventory Balance Cost per Cost per Cost per Date # of units # of units sold Cost of Goods Sold # of units Inventory Balance unit unit unit January 1 205 @ $ 13.00 = $ 2,665.00 January 10 January 20 January 25 145 units @ $22.00 Jan. 25 Sales Jan. 30 Purchase Totals 310 units @ $11.50 = 655 units 3,565 $7,910 310 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 345 units, where 310 are from the January 30 purchase, 5 are from the January 20 purchase, and 30 are from beginning inventory. Required: 1. Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. 2. Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. 3. Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. 4. Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. (Round cost per unit to 2 decimal places.) Perpetual LIFO: Goods Purchased #of units unit Cost per Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Inventory Balance # of units Inventory unit Balance Cost per Date January 1 205 @ $ 13.00 $ 2,665.00 January 10 January 20 January 25Step by Step Solution
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