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quiz due in 30!! thank you guys so much Required information [The following information applies to the questions displayed below.) Laker Company reported the following
quiz due in 30!! thank you guys so much
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. Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 215 units@ $14.00 = $3,010 Jan. 10 Sales 165 units $23.00 Jan. 20 Purchase 160 units $13.00 - 2,080 Jan. 25 Sales 198 units @ $23.00 Jan. 30 Purchase 330 unitse $12.50 = 4,125 Totals 705 units $9,215 355 units Date The Company uses a perpetual inventory system. For specific identification, ending Inventory consists of 350 units, where 330 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 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. 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 questions by entering your answers in the below tabs. Required: Required 2 Required Required 4 Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. Specific Identification Available for Sale Cost of Goods Sold Ending Inventory Unit Unito Ending Ending Cost Per Purchase Date Activity Units Cost Sold COGS Unit Cost Inventory Unit Inventory Units Cost Jan 1 Beginning 215 5 14.00 200 $ 14.00 $ 2,800 Inventory Jan 20 Purchase 160 Jan 30 Purchase 330 200 $ 2,800 705 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 questions by entering your answers in the below tabs. Required 1 Requited 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 Date # of units unit Cost per Cost of Goods Sold of units Cost of unit sold Goods Sold Cost per Inventory Balance Cost per Inventory # of units unit Balance 215 @ $ 14.00 - 3.010.00 January 1 January 10 January 201 Average cost January 25 January 30 Totals (Required 1 Required 3 > 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 questions by entering your answers in the below tabs. Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO Goods Purchased Cost of Goods Sold Inventory Balance Cost Cost Date # of units Cost per unit #of units sold Cost of Goods Sold # of units per unit per unit $ 14.00 Inventory Balance $ 3,010.00 January 1 215 @ January 10 January 20 January 25 January 30 Totals Required: 1. Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific ider 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 questions by entering your answers in the below tabs. Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. Perpetual LIFO: Goods Purchased # of Cost units Cost of Goods Sold # of units Cost Cost of Goods sold Sold Date per unit per unit Inventory Balance Cost Inventory # of units per unit Balance $ 215 @ $14.00 = 3,010.00 January 1 January 10 January 20 January 25 January 30 Totals Step by Step Solution
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