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Required information [The following information applies to the questions displayed below) Loker Company reported the following January purchases and soles data for its only product.
Required information [The following information applies to the questions displayed below) Loker Company reported the following January purchases and soles data for its only product. The Company uses a perpetual Inventory system. For specific identification, ending inventory consists of 370 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory Activities Units Acquired at Cost 220 units @ $ 14.50 1,190 Units sold at Mail Date January 1 January 10 January 20 January 25 January 30 Beginning inventory Sales Purchase Sales 170 units 5.23.50 170 units $13.50 2.295 200 units $ 23.50 Purchase 370 units $13.00 750 units Total 4,810 $10,295 370 units 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 Wegated Average Complete the the cost assigned to ending inventory and cost of goods sold using specific identification Specific Identication Cost of Goods Sold Available for Sale Enig Purchase Date Activity Cost Per Unit of units olunta sold Ending Cost Per Unit COGS Ending Inventory Unit Cost Per Dit wory Cost Jawy January 20 January 30 Beginning very Puchon Purchase 2201 s 14501 1701 370 750 Weighted wage CP 2 DELL C c O # % $ 4 84 7 Il 5 6 8 O 3 u P W e h j k g S d : n m alt ctrl 10 om Part Dating your Wit Guipe O . ST DOLL O O 1 t D e tat y b * h j K 1 9 s . b n 1 shift x z Ctrt ter olt Determine the cost assigned to ending inventory and to cost of goods sold using FT n 1.0 Part of 2 Preto Good Purchased Cost of Goods Sold Costpar units Colt per Cost of Goods De Imetery Balance Costper ventory Rott and Sold olm unit wwwy 2051450 $ 3.19000 42 Jy 19 Jy20 Tony wy TY www
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