The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 200 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from the beginning inventory.

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 Units Acquired at Cost Units sold at Retail Jan. 140 units @ S 840 Beginning inventory 10 Sales Jan. 100 units @ s 15 Jan. 20 Purchase 60 units @ s 5 300 Jan. 25 Sales 80 units @ 15 Jan. 30 Purchase 180 units 4.5 810 Totals 380 units s 1,950 180 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 200 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. Date # of units sold Cost of Goods Sold # of units Cost per unit # of units Cost per Cost per unit Inventory Balance 1-Jan 140 @ $6.00 = $840.00 January 10 100 @ $6.00 $ 600.00 40 @ $6.00 $240.00 January 20 60 @ $5.00 CL $ 40 60 6.00 5.00 @u $ $240.00 $300.00 $540.00 25-Jan $ $ @ $ $ 40 40 @ @ 6.00 = 5.00 = 6.00 5.00 $ 240.000 200.00 20 440.00 @ $ $ $ $ $ 100.00 100.00 30-Jan 180 @ $4.50 0 CD $ $ 6.00 5.00 @ $ 20 180 $ $4.50 @ 200 Totals 100.00 810.00 910.00 $ $ $ 1,040.00 Data Specific ID FIFO LIFO + Date # of units sold Cost per unit Cost of Goods Sold # of units Cost per unit # of units Cost per Inventory Balance 1-Jan 140 @ $6.00 $840.00 January 10 100 @ $6.00 $ 600.00 40 C $6.00 $240.00 January 20 60 @ $5.00 CD 1 40 60 $ $ 6.00 5.00 CI $240.00 $300.00 $540.00 25-Jan $ $ @ $ $ 40 40 @ @ 6.00 5.00 6.00 5.00 $ 240.000 200.00 20 440.00 $ CD $ $ $ 100.00 100.00 $ 30-Jan 180 @ $4.50 6.00 ele $ $ 5.00 = 20 180 $ $ $ @ $4.50 100.00 810.00 910.00 Totals $ 1,040.00 $ Data Specific ID FIFO LIFO + + Perpetual LIFO: Goods Purchased # of Cost units per unit Cost of Goods Sold Cost per unit Date Inventory Balance Cost per unit # of units sold Cost of Goods Sold # of units Inventory Balance 1-Jan 140 @ $6.00 $840.00 January 10 100 @ $6.00 S 600.00 40 @ $6.00 $240.00 January 20 60 @ $5.00 @ = 40 60 $ $ 6.00 5.00 @ $240.00 $300.00 $540.00 25-Jan @ $ 20 60 6.00 5.00 = $ $ 120.00 20 300.000 420.00 @ @ $ $ 6.00 5.00 $ 120.00 $ $ 120.00 S 30-Jan 180 @ $4.50 $ 20 0 180 @ @ 6.00 5.00 $ $4.50 $ 120.00 $ $ 810.00 $ 930.00 Totals $ 1,020.00 Data Specific ID FIFO LIFO +