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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. The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 340 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Units sold at Retail Units Acquired at Cost 210 units @ $ 13.50 - $ 2,835 160 units Date January 1 January 10 January 20 January 25 January 30 Activities Beginning inventory Sales Purchase Sales Purchase 150 units @ $ 12.50 - 1,875 @ $ 22.50 @ $ 22.50 180 units $ 12.00 - 340 units 700 units 4,080 $ 8, 790 Totals 340 units 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 question by entering your answers in the tabs below. Specific id Weighted Average FIFO LIFO Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. Available for Sale Specific Identification Cost of Goods Sold Cost Per # of units COGS Unit Cost Per Unit sold Purchase Date Ending Inventory Cost Per Unit Ending Inventory. Cost Activity Ending Inventory- Units # of units 210 January 1 January 20 January 30 Beginning inventory Purchase 150 Purchase 340 700 Units sold at Retail Units Acquired at Cost 210 units @ $13.50 - $ 2,835 160 units @ $ 22.50 Date January 1 January 10 January 20 January 25 January 30 Activities Beginning inventory Sales Purchase Sales Purchase 150 units S 12.50 - 1,875 180 units @ $ 22.50 $ 12.00 = 340 units 700 units 4,080 $ 8,790 Totals 340 units equired: Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. . Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. . Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. . Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. Complete this question by entering your answers in the tabs below. Specific id Weighted Average FIFO LIFO 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 Cost of Goods Sold Cost per # of units # of units Cost per Cost of Goods unit sold unit Sold Inventory Balance Date # of units Cost per unit Inventory Balance January 1 210 at $ 13.50 = $ 2,835.00 January 10 January 20 Average cost 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 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 question by entering your answers in the tabs below. Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO: Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Inventory Balance Goods Purchased Cost per # of units unit Date # of units Cost per Inventory Balance unit January 1 210 at $13.50 = $ 2,835.00 January 10 January 20 Total January 20 January 25 Total 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 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 question by entering your answers in the tabs below. Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. Perpetual LIFO: Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Goods Purchased Cost per # of units unit Date # of units Inventory Balance Cost per Inventory Balance unit $13.50 = = $ 2,835.00 January 1 210 at January 10 January 20 Total January 20 January 25 Total January 25 January 30 Totals

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