Required information {The following information applies to the questions displayed below) Loker Company reported the following January purchases and sales data for its only product Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 220 units@ $14.50 $3,190 Jan. 10 Sales 170 units $23.58 Jan. 20 Purchase 170 units $13.50 -2.295 Jan. 25 Sales 200 units @ $23.50 Jan. 30 Purchase 340 units $13.00 4,420 Totals 730 units 59,905 378 units The Company uses a perpetual inventory system. For specific Identification, ending Inventory consists of 360 units, where 340 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 ore 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 Complete this question by entering your answers in the tabs below. Required 4 Required 3 Required 1 Required 2 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 decimal places.) 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. 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 decimal places.) Specific identification Available for Sale Cost of Goods Sold Ending Inventory Ending Unit Units Ending Cost Per Purchase Date Activity Units COGS Unit Cost Sold Cost Inventory Inventory Unt Units Jan. 1 Beginning inventory 220 Jan 20 Purchase 170 Purchase 340 730 $ $ Cost Jan 30 0 0 Required 2 > Required information Complete this question by entering your answers in the tabs below. 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 Cost of Goods Sold Inventory Balance # of #of Cost per Cost per Cost of Goods Cost per Inventory Date # of units units units unit unit sold unit Sold Balance January 1 220 $ 14,50 $ 3.190.00 January 10 January 20 Average cost January 25 January 30 Totals Required 3 > Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. (Round cost per unit to 2 decimal places.) Perpetual LIFO: Goods Purchased # of Cost per units unit Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Cost per Dato Inventory Balance Inventory # of units unit Balance 220 @ $ 14,50 = $ 3.190.00 January 1 January 10 January 20 January 25 January 30 Totals (Required 3 Required
