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. Units Acquired at Cost 230 unitse $15.50 - $ 3,565 Units sold at Retail Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 180 units @ $24.50 190 units $14.50 - 2,755 220 units $24.50 360 units@ $14.00 - 780 units 5,040 $11,360 400 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 380 units, where 360 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 assioned to ending inventory and to cost of noods sold using FIFO Ched 360 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. d Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification (Round cost per unit to 2 places.) Specific Identification Available for Sale Cost of Goods Sold Purchase Date Activity Units Unit Cost Units Sold Unit Cost Ending Inventory Ending Cost Per Ending Inventory Inventory Unit Units Cost COGS Required 1 Required 2 Required 3 Required 4 29 Complete places.) Required un to determine the cost assigned to ending inventory and cost of goods sold using specific identification. (Round cost per unit to 2 . Specific identification Available for Sale Purchase Date Activity Cost of Goods Sold Units Sold Unit Cost COGS Units Unit Cost Ending Inventory Ending Ending Cost Per Inventory Inventory Units Unit Cost | Jan. 1 Jan. 20 Jan. 30 Beginning inventory Purchase Purchase 230 190 360 780 0 $ 0 0 $ 0 Required 2 > Weighted Average - Perpetual: Goods Purchased Cost of Goods Sold Date # of units Cost per # of units sold unit Cost per Cost of Goods unit Inventory Balance Cost per Inventory # of units unit Balance Sold 230 @ $15.50 = $ 3,565.00 January 1 January 10 January 20 Average cost January 25 January 30 Totals Required information Date Cost per # of units # of units sold Cost per unit Cost of Goods Sold Cost per unit # of units Inventory Balance unit January 1 January 10 230 @ $ 15.50 = $ 3,565.00 January 20 January 25 January 30 Total Required information Cost per # of units Date January 1 # of units sold Cost per unit Cost of Goods Sold unit Cost per # of units unit Inventory Balance $ 3,565.00 230 @ $ 15.50 - January 10 January 20 January 25 January 30 Total
