Return to Required information f3 Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending Inventory and to cost of goods sold using LIFO. Perpetual LIFO: Cost of Goods Sold Cost # of units Cost of sold per Goods Sold unit Goods Purchased Cost # of units per unit Date Inventory Balance Cost per Inventory Balance unit # of units January 1 190 at $7.00 $ 1,330.00 January 10 January 20 Total January 20 January 25 Total January 25 File Edit View History Bookmarks Window Help 48% Sun 4:19 PM ezto.mheducation.com G 5 Homework 21FA-AUAC-020A-0892 - Financial Acco... Question 2 - Chapter 6 Homework - Con... Gut Homework Help With Chegg Study Answord: Laker Company reporte hapter 5 Homework i Saved Help Save & Exit Submit Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 2 Required information rt 1 of 3 ecific Id Weighted Average FIFO LIFO nplete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. ats Available for Sale hase Date Activity # of units Unit Specific Identification Cost of Goods Sold Cost # of Cost Per Per units COGS Unit sold $ 7.00 175$ $ 1,225 $ 6.00 105 $ 6.00 630 $ 5.50 0 280 $ 1,855 7.00 Beginning inventory Purchase Purchase ary 1 ary 20 ary 30 Ending Inventory Ending Cost Per Ending Inventory- Inventory Unit Units Cost 15$ 7.00 $ 105 5$ 6.00 30 280 $ 5.50 1,540 300 $ 1,675 190 110 280 580 Weighted Average 2 OC 17 Return to question Required information ecific Id Weighted Average FIFO LIFO ermine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal places.) Weighted Average - Perpetual: Cost of Goods Sold Inventory Balance Date Goods Purchased Cost # of units per unit # of units sold Cost per unit Cost of Goods Sold Cost per # of units unit Inventory Balance ary 1 190 at IS 7.00 1,330.00 ary 10 150 at $ 7.00 = $ 1,050.00 40 at $ 7.00 = $ 280.00 110 at $ 6.00 ary 20 40 at = $ 280.00 $ S 7.00 6.00 110 at 660.00 age cost January 150 at $ 7.00 $ 940.00 ary 25 130 at $ 13.24 $ 1,721.20 20 at 280 at $ 5.50 20 ary 30 at at 280 300 1,540.00 S $ 2,771.20 $ $ 5.50 5.54 at Returnt INA ETER Required information Date Goods Purchased Cost # of units per unit Cost of Goods Sold Cost # of units Cost of Goods sold per Sold unit Inventory Balance Cost Inventory per Balance unit # of units January 1 190 at $7.00 = IS 1,330.00 January 10 January 20 Total January 20 January 25 Total January 25 January 30 Totals H Saved Help Save & Exit Su my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to quest Required information (The following information applies to the questions displayed below.) Laker Company reported the following January purchases and sales data for its only product. The Company uses a perpetual Inventory system. For specific identification, ending inventory consists of 280 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Units Acquired at Cost 190 units $ 7.00 = $ 1,330 Units sold at Retail 150 units @ $ 16.00 Date January 1 January 10 January 20 January 25 January 30 Activities Beginning inventory Sales Purchase Sales Purchase Totals 110 units @ $ 6.00 - 660 130 units $ 16.00 @ $ 5.50 - 280 units 580 units 1,540 $ 3,530 280 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. Prev 2 4 of 9 Next > BB2 OOT