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 Units Acquired at Cost 160 units $8.50+ $1,500 Unit sold at Retail 120 units $17.50 Date Activities Tangining inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Janis Purchase Totals 100 units $7.50 750 120 units 517.50 220 mit 57.00 1.54 100 units 53,650 240 units The Company uses a perpetual inventory system. For specific Identification, ending Inventory consists of 240 units, where 220 are from the January 30 purchases are from the January 20 purchase, and 15 are from beginning inventory Exercise 5-3 Perpetual: Inventory costing methods LO P1 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 uro. Complete this question by entering your answers in the tabs below. Required Required 2 Required Required Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific Identification (Round cost per unit to place Specific Identification Available for Sale Cost of Good Gold Units Sold Unit Cost COGS Endling Inventory Ending Ending Cost Inventory Unit Inventory Units Cool Purchase Date Unit Cost Activity Units on 1 Jan 30 Beginning inventory Purchase Purch 1001 100 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. Required: Required 2 Required 3 Required 4 Determine the cost assigned to ending Inventory and to cost of goods sold using FIFO. (Round cost per unit to 2 decimal places. Perpetual FIFO: Goods Purchased Cost of Goods Sold Inventory Balance #of Cost per # of units Cost per Cost of Goods Cost per Date Inventory # of units units unit sold unit Sold unit Balance January 1 160 a $ 8,50 $ 1360 00 January 10 January 20 January 25 January 30 Totals ed 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. Required 2 Required 3 Required a Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. (Round cost per unit to 2 decimal places Perpetual LIEO Date Goods Purchased Cost of Goods Sold Cost per of units Cost per Cost of Goods units unit sold unit Sold of Inventory Balance Coster #of units inventory unit Balance 100 $ 150 $ 1360.00 Jan 1 January 10 naty 20 Juny 25 Jan 30 Totals
