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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.

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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 175 units@ $10.00 - $1,750 Units sold at Retail 12:21 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 130 units@ $ 9.00 - 1,170 135 units 140 units $19.00 $19.00 $ 8.50 - 250 units 555 units 2.125 $5,045 275 units The Company uses a perpetual inventory system. For specific identification, ending Inventory consists of 280 units, where 250 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 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 information 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 weighted average. (Round cost per unit to 2 decimal places.) Weighted Average . Perpetual: Goods Purchased Inventory Balance Cost per Cost of Goods Sold of Cost per Cost of Goods unit Sold # of units Date Inventory # of units Cost per unit Balance sold January 1 175 @ $ 10.00 - $1,750.00 January 10 January 20 Avec Con Required Required 3 >

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