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 periodic Inventory system For specific identification, ending inventory consists of 215 units, where 190 are from the January 30 purchase. 5 are from the January 20 purchase, and 20 are from beginning inventory Date Activities Units acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 1.45 units @ $7.00 - $1,015 Jan. 1a Sales 105 units 516.00 Jan. 20 Purchase 70 units@ $6.00 - 420 Jan. 25 Soles 85 units @ $16.00 Jan. 30 Purchase 190 units@ $5.50 - 1.045 405 units $2,450 190 units Totals Required: Determine the cost assigned to ending inventory and to cost of goods sold using a specific identification () weighted average FIFO, and (c) LIFO Complete this questions by entering your answers in the below tabs. Required: Determine the cost assigned to ending inventory and to cost of goods sold using a specific Identification, to weighted averaged FIFO and UFO Complete this questions by entering your answers in the below tabs. Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending Inventory and to cost of goods sold using LIFO. d) LIFO Cost of Goods Available for Sale Cost of Goods # of units Available for unit Sale Cost per Cost of Goods Sold of units Cost per Cost of unit Goods Sold Endlog Inventory #of units Cost Ending In ending inventory per unit Inventory sold Beginning inventory Purchases Jan. 20 Jan. 30 Total 0 $ $ 0 0 3 FIFO Required: Determine the cost assigned to ending Inventory and to cost of goods sold using a specific identification (b) weighted averag FIFO, and (LIFO Complete this questions by entering your answers in the below tabs. ped Specific la Weighted Average FIFO LIFO Determine the cost assigned to ending Inventory and to cost of goods sold using FIFO. C) FIED Cost of Goods Available for Sale Cost of Goods of units Cost per Available for Sale Cost of Goods Sold of units Cost per Cost of sold unit Goods Sold Ending Inventory of units Cont in ending Ending Inventory per unit inventory Beginning inventory Purchases Jan 20 Jan 30 Total 5 0 $ 0 5 Complete this questions by entering your answers in the below tabs. a 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 by Average Cont Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Average Cost of Goods Average of units Cost of W of units of units Cost per Average Available for Cost per sold Ending In ending Cost per unit Sale Unit Goods Sold Inventory Inventory Beginning inventory Purchases Jan 20 Jan 30 Total $ Required: Determine the cost assigned to ending inventory and to cost of goods sold using a specific identification (b) weighted ave FIFO, and (d) UFO Complete this questions by entering your answers in the below tabs. d Specific to Welghted Average FIFO LIFO Determine the cost assigned to ending Inventory and to cost of goods sold using specific identification For specific identification, endin 215 units, where 100 are from the January 30 purchase. 5 are from the January 20 purchase, and 20 are from beginning inventory. a) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Cost per Cost of Goods # of units Cost per # of units Cost of unit Available for Sale sold unit Goods Sold Ending Inventory #of units Cost Ending In ending per unit Inventory Inventory Beginning inventory Purchases Jan 20 Jan 30 Total $ 0 5 0 0 15 0 Weighted Average >
