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. Date Activities Units Acquired at Cost Units sold at Retail Beginning inventory 230 units@ $15.50 = $ 3,565 Jan. 10 Sales 180 units @ $24.50 Jan. 20 Purchase 190 units@ $14.50 = 2,755 Jan. 25 Sales 220 units@ $24.50 Jan. 30 Purchase 360 units@ $14.00 = 5,040 Totals 780 units $11,360 400 units Jan. 1 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 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 Required 2 Required 3 Required 4 Complete this question by entering your answers in the tabs below. Required 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 de places) Specic Identification Available for Sale Cost of Goods Sold Ending Inventory Units Purchase Date Ending Units Costpor Unit Cost COM Sald COGS Inventory Unit Inventory Units Cost Sant Beginning inventory 230 5 15.50 Jan 20 (Purchase 1901 s 150 Jan 30 Purchase 360 S 100 0 5 0 Route Required 2 > 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 aventory Balance of Dale Cost per Cost per cost of Goods Inventory Cost per units units unit unit of units Sold sold unil Balance January 1 230 ml 5 15,50 $ 3.565.00 January 10 January 20 Average cost January 23 January 30 Tets Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. (Round cost per unit to 2 decimal places.) Perpetual FIO: Goods Purchased Cost of Goods Sold Inventory.balance 361 Die Coster of nits Cost per Cost of Goods Cit per Inventory old Sold un January 1 2301 5 15.50 53.565.00 January 10 January 20 January Required 2 Required 4 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 LIFO. (Round cost per unit to 2 decimal places.) Perpetual LIFO: Goods Purchased Cost of Goods Sold Inventory Balance of Cost per # of units Cost per cost of Goods Date Cost per Inventory unit of units sold unit Sold Balance January 1 230 @ 5. 15.50 - $ 3,565.00 January 10 January 20 units unit January 25 January 30 Totals
