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please complete the following charts with information given, thumps up! Required information Use the following information for the Exercises below. [The following information applies to
please complete the following charts with information given, thumps up!
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. Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 230 units @ $15.50 - $ 3,565 Jan. 10 Sales 180 units $24.50 Jan. 20 Purchase 190 units @ $14.50 - 2,755 Jan. 25 Sales 220 units @ $24.50 Jan. 30 Purchase 360 units. $14.00 - 5,040 Totals 780 units $11,360 400 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 380 units, where 360 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. 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 unit to 2 de places.) Specific Identification Available for Sale Cost of Goods Sold Ending Inventory Unit Ending Purchase Date Ending Activity Units Units Cost Unit Cost Sold COGS Cost Per Inventory Units Unit Inventory Cost Jan 1 Beginning inventory 230 Jan 20 Purchase 190 Jan. 30 Purchase 3601 780 0 $ 0 5 0 Required 2 > 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 Weighted Average - Perpetual: Goods Purchased # of Date #of units Cost per Cost of Goods Sold Cost per Cost of Goods unit Sold Inventory Balance Inventory # of units unit Balance Cost per units sold unit 230 $ 15.50 $ 3.565.00 January 1 January 10 January 20 Average cost January 25 January 30 Totals Perpetual FIFO: Goods Purchased Date of Cost per Cost of Goods Sold # of units Cost of Goods sold unit Sold Cost per units unit Inventory Balance Cost # of units per Inventory unit Balance $15.50 = $ 3,565.00 January 1 230 @ January 10 January 20 January 25 January 30 Totals Perpetual LIFO: Goods Purchased # of units unit Cost per Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Date Cost per Inventory Balance # of units Inventory unit Balance 230 @ $ 15,50 $ 3,565.00 January 1 January 10 January 20 January 25 January 30 Totals Step by Step Solution
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