Saved 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 250 units from the January 30 purchase, 5 units from the January 20 purchase, and 20 units from beginning inventory. Units sold at Retail Units Acquired at Cost 165 units @ $ 9.00 = $ 1,485 125 units @ Date January 1 January 10 January 20 January 25 January 30 $ 18.00 Activities Beginning inventory Sales Purchase Sales Purchase Totals 110 units @ $ 8.00 = 880 125 units @ $ 18.00 @ $ 7.50 = 250 units 525 units 1,875 $ 4,240 250 units The Company uses a periodic inventory system. For specific identification, ending inventory consists of 250 units from the January purchase, 5 units from the January 20 purchase, and 20 units from beginning inventory. Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (FIFO, and (d) LIFO. Complete this question by entering your answers in the tabs below. Specific Id Weighted Average FIFO LIFO ER Next Saved Help Save & Exit Submit Check my work TI VICEVUSE HE HEIREVISIONI IV *** 20 Required information 4 of 5 Complete this question by entering your answers in the tabs below. Specific Id Weighted Average FIFO LIFO 5 Determine the cost assigned to ending inventory and to cost of goods sold using specific identification. For specific identification, ending inventory consists of 250 units from the January 30 purchase, 5 units from the January 20 purchase, and 20 units from beginning inventory 01:25:18 a) Specific Identification Book Cost of Goods Sold Ending Inventory Hint Cost of Goods Available for Sale Cost of Goods Cost per # of units Available for unit Sale # of units sold Cost per unit Cost of Goods # of units in Sold ending Inventory Cost per unit Ending Inventory Print Beginning inventory rences Purchases January 20 January 30 Total 0 $ $ 0 0 0 $ 0 0 $ 0 conced Weighted Average > LTH TIVI Can I TRE VYVRCICILARII IV *** Required information Complete this question by entering your answers in the tabs below. Specific Id Weighted 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 places.) b) Weighted average - Periodic Ending Inventory Cost of Goods Available for Sale Cost of Goods Available for per unit Sale Cost of Goods Sold Average # of units Cost per sold Unit Cost of Googs # of units Average Cost # of units in ending inventory Average Cost per unit Ending Inventory Sold Beginning inventory Purchases January 20 January 30 Total $ S 0 0 0 WHOISILILI PRIV! 20 Required information + 4 of 5 Complete this question by entering your answers in the tabs below. Specific Id Weighted Average FIFO LIFO ats Determine the cost assigned to ending Inventory and to cost of goods sold using FIFO. 01:24:48 c) Periodic FIFO Cost of Goods Available for Sale Cost of Goods Sold eBook Cost per unit # of units Cost of Goods Available for Sale # of units sold Ending Inventory # of units in Cost per Ending ending unit Inventory inventory Cost per unit Cost of Goods Sold Hint Print Beginning inventory Purchases eferences January 20 January 30 Total 0 $ 0 0 0 0 S 0 TATNICH V SUSISIEKITETOVESILISES TO HAVE Required information Complete this question by entering your answers in the tabs below. Specific Id Weighted Average FIFO NIFO Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. d) Periodic LIFO Cost of Goods Available for Sale Cost of Goods Sold Cost per unit # of units Cost of Goods Available for Sale # of units sold Cost per unit Cost of Goods Sold Ending Inventory # of units in Cost per Ending ending unit Inventory inventory Beginning inventory Purchases January 20 January 30 250 0 Total 0 $ 0 250 $ 0 0 $ 0
