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Required: Goods Purchased Pengetual FIFO: Cost of Goods Sold Inventory Balance Cost Cost # of units per unit of units Bold per unit Cost
Required: Goods Purchased Pengetual FIFO: Cost of Goods Sold Inventory Balance Cost Cost # of units per unit of units Bold per unit Cost of Goods Sold Cost of units per Inventory unit Balance January 1 220 at 14.50 $3.150.00 Required information [The following information applies to the questions displayed below.j 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 370 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. January 10 January 20 Total January January 20 Cate January 1 January 13 Activities Beginning inventory Sales Units Acquired at Cost 220 units $14.50 $3,190 Units sold at Retail 20 173 unita $ 23.50 January 23 January 25 Purchase Sales January 33 Purchase Totals 170 units $13.50- 370 units 760 unita 2,295 203 unita $ 23.50 25 $13.00-1 4,813 5 10,295 373 unita 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 the cast of goods sold using FIFO. 4. Determine the cost assigned to ending inventory and to the cost of goods sold using LIFO. Complete the table to determine the cost acsigned to ending inventory and cost of goods sold using specific identification. Sidentification Available for Cost of Good Bald Ending Inventory Purchase Date Cost Activity Per *of unta Unk Bold Cost Per Unit COGS Ending Inventory Units Coat Per Unit wwwwwy Reginning Inventory 2200 Janay 20 PLUNG 170 11.90 wwwwwy 30 PLEA 370 1130 700 0 0 0 January 1 Weighted A-Pl Goods Purchased Cost of Goods Sold Cont Date Kofunis unt units sold Cont per Cost of Goods Bold January 20 Average 22 25 January kab Total January January 30 T Perpetual LIFO: Goods Purchased Cost of Goods Sold Inventory Balance Data of units Coat per # of units sold Cost Coat Cost of per Goods Bold of unit unit per unit S Inventory Balance January 1 220 at 3.190.00 14.50 Ending Inventory- January 10 Cont January 20 Total January 20 January 25 Total January Inventory Balance 25 Inventory Balance 220 $ 14.00 3.160.03 January 201 Tolls
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