Required information Use the following information for the Exercises below IThe following information applies to the questions displayed below/ Laker Company reported the following January purchases and sales data for its only product Units sold at Retail Date Activities Units Acquired at cost Jan. 1 Jan.10 Sales Jan. 20 Purchase 110 units@ $6.00= 660 Jan. 25 Sales Jan.30 Purchase 280 unitse $5.50-1 1 540 Beginning 190 unitse$7.00-$1,330 inventory 150 units@ $16.00 130 units@$16.00 580 units $3, 530 280 units Totals Graded The Company uses a periodic Inventory system. For specific identification, ending inventory consists of 300 units, where 280 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. Determine the cost ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average. (d FIFO, and (d LIFO Weighted FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using specific identification. For specific identification, ending inventory 300 units, where 280 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory a) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory forof units Cost per Cost Sale # of units # of units | Cost per sold Cost perAvailable for Cost of per unitGoods Soldst Ending # of units inventory Per unit Inventory Jan. 20 Jan. 30 Total search ls Help ded Required information ending inventory and to cost ot goods sold using (a) specitic identitication. (U) weighted average. (g H-O, and (a Li-O Complete this questions by entering your answers in the below tabs. ic id Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal place Cost of Goods Sold Ending Inventory rofGoods | # of units | Cost per l Goods Sold | inventory | of units Average Ending Average Cost of Average Cost ofin ending Cost per Inventory sold Sale Purchases Jan. 20 an. Total Next >
