questions I need help with from Chapter 5 of my accounting review:

Q1:

Q2:

Q3:

Determine the cost assigned to ending inventory and to cost of goods sold using specific identification. For specific identification, ending inventory consists of 216 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 31 are from beginning inventory.

Q4: (linked to Q3)

Q5:

Required information [The following information applies to the questions displayed below.] Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of 216 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase and 31 are from beginning inventory. Issume the periodic inventory system is used. Pequired: 1. Compute gross profit for the month of January for Laker Company for the four inventory methods. 2. Which method yields the highest gross profit? 3. Does gross profit using weighted average fall between that using FIFO and LIFO? 4. If costs were rising instead of falling, which method would yield the highest gross profit? Complete this question by entering your answers in the tabs below. Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. Compute gross profit for the month of January for Laker Company for the four inventory methods. Note: Round cost per unit to 2 decimal places and final answers to the nearest whole dollars. Complete this question by entering your answers in the tabs below. Determine the cost assigned to ending inventory and to cost of goods sold using specific identification. For specific identification, ending inventory consis are from the January 30 purchase, 5 are from the January 20 purchase, and 31 are from beginning inventory. 1. At year-end, Barr Company had shipped $12,900 of merchandise FOB destination to Lee Company. Which company should include the $12,900 of merchandise in transit as part of its year-end inventory? 2. Parris Company has shipped $20,400 of goods to Harlow Company, and Harlow Company has arranged to sell the goods for Parris. Identify the consignor and the consignee. Which company should include any unsold goods as part of its inventory? Complete this question by entering your answers in the tabs below. At year-end, Barr Company had shipped $12,900 of merchandise FOB destination to Lee Company. Which company should include the $12,900 of merchandise in transit as part of its year-end inventory? Which company should include the $12,900 of merchandise in transit as part of its year-end inventory? Walberg Associates, antique dealers, purchased goods for $37,500. Terms of the purchase were FOB shipping point, and the cost of transporting the goods to Walberg Associates's warehouse was \$1,200. Walberg Associates insured the shipment at a cost of $150. Prior to putting the goods up for sale, they cleaned and refurbished them at a cost of $490. Determine the cost of inventory. 2. Which method yields the highest gross profit? 3. Does gross profit using weighted average fall between that using FIFO and LIFO? 4. If costs were rising instead of falling, which method would yield the highest gross profit -opez Company reported the following current-year data for its only product. The company uses a periodic inventory system, and its ending inventory consists of 540 units-180 from each of the last three purchases. a-d) Determine the cost assigned to ending inventory and to cost of goods sold for the following. e) Which method yields the highest net income? Complete this question by entering your answers in the tabs below. Determine the cost assigned to ending inventory and to cost of goods sold for the following. Note: Do not round intermediate calculations and round your answers to 2 decimal places. Complete this question by entering your answers in the tabs below. Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. Note: Round cost per unit to 2 decimal places. Which method yields the highest net income? Required information [The following information applies to the questions displayed below.] Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of 216 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 31 are from beginning inventory. equired: ssume the periodic inventory system is used. Determine the cost assigned to ending inventory and to cost of goods sold using (a Decific identification, (b) weighted average, (c) FIFO, and (d) LIFO. 1. At year-end, Barr Company had shipped $12,900 of merchandise FOB destination to Lee Company. Which company should include the $12,900 of merchandise in transit as part of its year-end inventory? 2. Parris Company has shipped $20,400 of goods to Harlow Company, and Harlow Company has arranged to sell the goods for Parris. Identify the consignor and the consignee. Which company should include any unsold goods as part of its inventory? Complete this question by entering your answers in the tabs below. Parris Company has shipped $20,400 of goods to Harlow Company, and Harlow Company has arranged to sell the goods for Parris. Identify the consignor and the consignee. Which company should include any unsold goods as part of its inventory? Complete this question by entering your answers in the tabs below. Determine the cost assigned to ending inventory and to cost of goods sold using LIFO