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Required information Use the following information for the Exercises below. The following information applies to the questions displayed below.] Laker Company reported the following
Required information Use the following information for the Exercises below. 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 Jan. 1 Beginning inventory Units Acquired at Cost 170 units $9.50 - $1,615 Units sold at Retail Jan. 10 Sales Jan. 20 Purchase 120 units@ $8.50 - Jan. 25 Sales Jan. 30 Purchase Totals 530 units 1,020 240 units $8.00- 1,920 $4,555 130 units @ $18.50 130 units @ $18.50 260 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 270 units, where 240 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory. cise 6-3 Perpetua: Inventory costing methods LO P1 red: mplete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. termine the cost assigned to ending inventory and to cost of goods sold using weighted average. termine the cost assigned to ending inventory and to cost of goods sold using FIFO. termine the cost assigned to ending inventory and to cost of goods sold using LIFO. omplete this question by entering your answers in the tabs below.
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