Please post in a similar format this is all one question with several parts ill be sure to thumbs up
Required Information Use the following Information for the Exercises 3-7 below. (Algo) The following information applies to the questions displayed below.] Laker Company reported the following January purchases and sales data for its only product. The Company uses a perpetual Inventory system. For specific identification, ending Inventory consists of 250 units from the January 30 purchase, 5 units from the January 20 purchase, and 20 units from beginning Inventory. Units sold at Retail Activities Beginning inventory $ 1,485 Sales Units Acquired at Cost 165 units @ $ 9.ee - 110 units @ $ 8.00 - 125 units @ Date January 1 January 10 January 20 January 25 January 30 $ 18.ee 880 125 units @ $ 18.ee Purchase Sales Purchase Totals @ $ 7.58 = 250 units 525 units 1,875 $ 4,248 250 units Exercise 5-3 (Algo) Perpetual: Inventory costing methods LO P1 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. Specific Id Weighted Average FIFO LIFO Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. Specific Identification Cost of Goods Sold Available for Sale Ending Inventory Purchase Date Activity # of units Cost Per Unit # of units sold Cost Per Unit COGS Ending Inventory- Units Cost Per Unit Inventory- Cost Ending January 1 January 20 January 30 Beginning inventory Purchase Purchase 165 110 250 525 0 S 0 0 S 0 Specielo Weighted Average > Exercise 5-3 (Algo) Perpetual: Inventory costing methods LO P1 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. Specific Id Weighted Average FIFO LIFO 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: Cost of Goods Sold Goods Purchased Inventory Balance Date # of units Cost per unit # of units sold Cost per unit Cost of Goods Sold # of units Cost per unit Inventory Balance January 1 165 at s 9.00 = S 1,485.00 January 10 January 20 Average cost January 20 January 25 January 30 Totals Complete this question by entering your answers in the tabs below. Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO: Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Inventory Balance Goods Purchased Cost per # of units unit Date Cost per # of units unit Inventory Balance January 1 165 at S 9.00 - 5 = 1,485.00 January 10 January 20 Total January 20 January 25 Total January 25 January 30 Totals Complete this question by entering your answers in the tabs below. Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. Perpetual LIFO: Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Goods Purchased Cost per # of units unit Date Inventory Balance Cost per unit Inventory Balance # of units January 1 165 at S 9.00 $ 1,485.00 January 10 January 20 Total January 20 January 25 Total January 25 January Totals
