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Required Information The following Information applies to the questlons displayed below] aker Company reported the following January purchases and sales data for its only product
Required Information The following Information applies to the questlons displayed below] aker Company reported the following January purchases and sales data for its only product Date Jan. 1 Beginning inventory 225 units Jan. 10 Sales Tan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase activities Unit Acquired at Cost $15.003,375 180 units $14.00 2,520 350 units @ $13.50= 4,725 $10, 620 Units sold at Retail 175 units$24.00 210 units $24.00 385 units Total 755 unis The Company uses a perpetual Inventory system. For specific Identfication, ending Inventory consists of 370 unlts, where 350 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 welghted average. 3. Determine the cost asslgned 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 questions by entering your answers in the below tabs
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