Units sold at Retail Units Acquired at Cost 175 units@ $18.00 = $1,750 135 units @ $19.ee Date Activities Jan. 1 Beginning inventory Jan. 19 Sales Jan. 2e Purchase Jan. 25 Sales Jan. 30 Purchase Totals 130 units@ $ 9.00 1,170 140 units @ $19.99 250 units @ $ 8.50 555 units 2,125 $5,845 275 units The Company uses a perpetual Inventory system. For specific identification, ending Inventory consists of 280 units, where 250 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory. 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. (Round cost per unit to 2 decimal places.) Perpetual FIFO: Goods Purchased Inventory Balance Cost per Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold # of units Date # of units unit Cost per unit $10.00 Inventory Balance $ 1,750.00 January 1 175 January 10 135 $ 10.00 = S 1.350.00 $ 400.00 January 20 130 @ S 9.00 40 @ $ 10.00 - 170 $ 10.00 - @ $ 0.00 $ 1.700.00 $ 1.700.00 January 25 S 10.00 = $ $ 0.00 @ $ 10.00 = @ S 9.00 = 0.00 @ S 9.00 = January 30 250 @ $8.50 @ $ 10.00 9.00 @ 06) @ $8.50 Totals Units sold at Retail Units Acquired at Cost 175 units @ $ie.ee = $1,750 135 units @ $19.ee Date Activities Jan. 1 Beginning inventory Jan. 19 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 130 units @ $ 9.00 = 1,170 140 units @ $19.88 250 units@ $ 8.50 555 units 2,125 $5,945 275 units The Company uses a perpetual Inventory system. For specific identification, ending Inventory consists of 280 units, where 250 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory. 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 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 units unit Cost per Cost of Goods Sold # of units Cost of Goods sold unit Sold Cost per Inventory Balance Cost per Inventory # of units unit Balance Date 175 @ S 10.00 = $ 1.750.00 January 1 January 10 January 20 January 25 January 30 Totals
