please someone do it correctly
Check my we Required information Use the following information for the Exercises 3-7 below. (Static) [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 periodic inventory system. For specific identification, ending inventory consists of 200 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. Units sold at Retail 100 units @ $ 15 Date Activities Units Acquired at Cost Jan. 1 Beginning inventory 140 units @ $6.00 - $ 840 Jan. 10 Sales Jan. 20 Purchase 60 units $5.00 - 300 Jan. 25 Sales Jan. 30 Purchase 180 units & $4.50 - 810 Totals 380 units $1,950 80 units @ $ 15 180 units Exercise 5-3 (Static) Periodic: Inventory costing methods LO P1 Required: Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (a FIFO, and (d) LIFO Required: Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average ( FIFO, and (c) LIFO Complete this question by entering your answers in the tabs below. FIFO Specific to Weighted Average 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.) b) Weighted average . Periodie Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Average Cost of Goods Average of units # of units Cost per Available for of units Average Cost per Cost of in ending Ending unit sold Cost Sale Goods Sold Unit Inventory per unit Inventory Beginning inventory 140 840 Purchases Jan 20 50 300 Jan 30 180 810 Total 380 $ 1,950 $ 0 $ 0 Complete this question by entering your answers in the tabs below. Weighted Specific Id KIFO Average Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. LIFO c) Periodic FIFO Cost of Goods Sold Cost of Goods Available for Sale # of units Cost of Goods Cost per unit Available for Salo 140 6.00 $ 840 # of units Cost per sold unit Cost of Goods Sold Ending Inventory # of units in ending Cost Ending Inventory per unit Inventory 20 $ 6.00 $ 120 Beginning inventory Purchases: 100 $ 6.00 $ 600 60 5.00 Jan 20 Jan. 30 Total 5.00 4.50 200 180 $ 5.00 180 900 300 810 1,950 40 $ 40 $ 180 4.50 $ 4.50 900 380 180 980 S 200 400 S $ 1,920 Weighted Average LIFO > FIFO, and (d) 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 add to cost of goods sold using LIFO. d) Periodic LIFO Cost of Goods Available for Sale Cost of Goods Sold Cost per Cost of Goods # of units of units Cost per Available for unit Cost of Sale sold unit Goods Sold Beginning inventory 140 6.00 $ 840 61 $ 6.00 $ 36 Purchases Jan 20 60 5.00 300 5ls 5.00 25 Jan 30 180 4.50 810 5 $ 4.50 23 Total 380 $ 1,950 16 $ Ending Inventory # of units Cost in ending Ending Inventory per unit Inventory 6 $ 6.00 $ 36 25 5 $ 5.00 5 $ 4.50 16 23 84 $ 84
