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[The following information applies to the questions displayed below.) Laker Company reported the following January purchases and sales data for its only product. Units sold

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[The 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 Units Acquired at Cost 220 units $8.40 - $ 1.848 125 units $16.40 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan 30 Purchase 215 units @ $ 16.40 290 units $ 7.40 - 2,146 160 units @ $6.40 - 1.024 670 units $ 5,018 Totals 340 units Required: The company uses a perpetual inventory system. For specific identification, ending inventory consists of 330 units, where 160 are from the January 30 purchase, 80 are from the January 20 purchase, and 90 are from beginning inventory 2. value 1.00 points 1. Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification (Round cost per unit to 2 decimal places.) Specific Identification Available for Sale Cost of Goods Sold Ending Purchase Date Cost Per Ending Inventory Ending Inventory Unit Cost Activity Unit Cost Units Units Sold Unit Cost Unit Cost Units Jan 1 Jan 20 Beginning inventory Purchase Purchase 220 S 8.40 2907 5 740 160 $ 6.40 670 Jan 30 2. Determine 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: Goods Purchased Inventory Balance Cost per Cost of Goods Sold Cost per Cost of Goods Sold ont per inventory of units unit Sold Balance January 1 220 @ $ 8.40 - $1.348.00 10 January 20 January 25 January 30 Totals Hints References eBook & Resources Check my work 4. 100 points 3. Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. (Round cost per unit to 2 decimal places) Perpetual D 1.00 points 4. Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. (Round cost per unit to 2 decimal places.) Perpetual LIFO Goods Purchased of Cost per units unit Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Date Inventory Balance Cost per Inventory of units unit Balance 220 @ S 8.40 - 5 1,848.00 January 1 January 10 January 20 January 25 January 30 Totals

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