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 275 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory Activities Units Acquired at Cost Units sold at Retail January Beginning inventory 175 units $ 10.00 - $ 1,750 January 10 Sales 135 units $ 19.00 January 20 Purchase 130 units e $ 9.00 - 1,170 January 25 Sales 140 units e $ 19.00 January 30 Purchase 275 units $ 7.00 - 1,925 Totals 580 units $ 4,845 275 units Date quired: 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. 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. Ending Special Weighted FIFO UFO Average Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification Bei Identification Available for Sale Cost of Goods Sold Ending ventory Purchase Date Endo Cost Per af units of unit Active Cost Per Unit Cost Per COGS sold Inventory Units Inventory-Cost January Beginning inventory 175 January 20 Purchase 130 275 January 30 Purchase 580 S Weighted Average > 0 Prev 1 2 of 6 Next > S 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 to Weighted FIRO LIFO "Average 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 lsventory Balance Date Cost per of units Cost per Cost of Goods # of units Nof units unit Cost per unit inventory Balance sold unit Sold 175 at $ January 1 10.00 $ 1.750.00 January 10 January 20 Average cost January 20 Prey 1 2 of 6 : Next > Gatv SO 8 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. Weighted Average FIFO LIFO Specific to 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 Goods Purchased Cost per Baf units unit Date Inventory Balance of units Cost per Inventory Balance unit 175 at $ 10.00 $ 1,750.00 January 1 January 10 January 20 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 Inventory Balance Inventory Balance Date Cost per unit # of units 175 at $10.00 $ 1,750.00 January 1 January 10 January 20 Tata Inn Dr. of 6 Next >
