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 310 units from the January 30 purchase. 5 units from the January 20 purchase, and 30 units from beginning Inventory Units Acquired at Cost 205 units 5 13.00 Un soldar Retail 5 2,665 Date January 1 January 10 January 20 January 25 January 30 Activities Beginning inventory Sales Purchase Sales Purchase Totals 165 units $22.00 140 units $12.00 1,680 145 vits 3. 22.00 $ 11.se 310 units 655 units 3.555 5.10 310 units The Company uses a periodic Inventory system. For specific identification, ending Inventory consists of 310 units from the January 30 purchase. 5 units from the January 20 purchase, and 30 units from beginning inventory. Determine the cost assigned to ending Inventory and to cost of goods sold using a specific identification (weighted average, FIFO and LFO 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 told using specific identification. For specific identification, ending inventory consists of 310 units from the January 30 purchase. 5 units from the January 20 purchase, and 30 units from beginning inventory. *) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of Goods Hofunds Available for of units Costa Coster Condiitsin Cost per sold Ending unit ending Sold unit inventory Inventory Beginning inventory Purchases January 20 January 30 Total Cost Weighted Average > Totals 655 units $ 7,970 310 units The Company uses a periodic inventory system. For specific identification, ending Inventory consists of 310 units from the January 30 purchase, 5 units from the January 20 purchase, and 30 units from beginning inventory Determine the cost assigned to ending Inventory and to cost of goods sold using a specific identification (weighted average (FIFO, and (a) LIFO Complete this question by entering your answers in the tabs below. Specific ld Weighted Average FIFO UFO Determine the cost assigned to ending inventory and to cost of goods sold using weighted average (Round cost per un to 2 decimal places.) b) Weighted average Periodic Cost of Goods Available for Sale of units Average Cost Cost of Goods Available for per unit Sale Cost of Goods Sold Average of units Cost per Cost of Goods sold Sold Unit of units in ending inventory Ending Inventory Average Cost per unit Ending Inventory Beginning inventory Purchases January 20 January 30 Total The Company uses a periodic inventory system For specific identification, ending inventory consists of 310 units from the January 30 purchase. 5 units from the January 20 purchase, and 30 units from beginning inventory. Determine the cost assigned to ending Inventory and to cost of goods sold using a specific identification, (weighted average (FIFO, and () UFO Complete this question by entering your answers in the tabs below. Specfield Weighted Average FIFO UFO Determine the cost signed to ending inventory and to enst of goods sold using Faro TFFD Custodiola Cast of Gewallate for Sale Couter Cost of Goods of units of Eigentory Cast Ending un inventory Cost Costa di Bold DO ty Phas January 20 30 Weighted Avenge LIO > Specific 1d Weighted Average FIFO LIFO D Determine the cost assigned to ending Inventory and to cost of goods sold using LIFO. Periodic LIFO Cost of Goods Available for Sale Cost per Cost of Goods of units unit Available for Sale Coat of Goods Sold of units Cost per Cost of Goods sold unit Sold Ending inventory of units in ending Cost per Ending unit Inventory Inventory Beginning inventory Purchases January 20 January 30 3 3 5
