Units sold at Retail Units Acquired at Cost 185 units@ $11.00 = $2,035 145 units @ $20.00 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 100 units@ $10.00 = 1,000 125 units @ $20.00 270 units@ $ 9.50 = 555 units 2,565 $5,600 270 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 285 units, where 270 are from the January 30 purchase, 5 are from the January 20 purchase, and are from beginning inventory. equired: Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific lentification. . Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. . Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. . 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 Required information Required 1 Required 2 Required 3 Required 4 Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. (Rou places.) Specific Identification Available for Sale Cost of Goods Sold Purchase Date Ending Inventory Ending Ending Cost Per Inventory- Inventory- Unit Units Cost Activity Unit Cost Units Units Sold Unit Cost COGS 185 $ 11.00 Jan. 1 Jan. 20 Jan. 30 Beginning inventory Purchase 100 $ 10.00 Purchase 270 $ 9.50 555 0 $ 0 0 $ 0 Requires Required 2 Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decir Weighted Average - Perpetual: Goods Purchased Cost of Goods Sold Inventory Balance Cost per Cost per Cost per Date # of units # of units sold Cost of Goods Sold # of units Inventory Balance unit unit unit January 1 185 @ $ 11.00 = $ 2,035.00 January 10 January 20 Average cost January 25 January 30 Totals 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 Cost of Goods Sold Inventory Balance Cost per Inventory # of units unit Balance Cost per Cost per Date # of units # of units sold Cost of Goods Sold unit unit January 1 185 @ $ 11.00 = $ 2,035.00 January 10 January 20 January 25 January 30 Totals 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 per Cost of Goods sold unit Sold Inventory Balance Inventory # of units unit Balance Cost per Date January 1 185 @ $ 11.00 = $ 2,035.00 January 10 January 20 January 25 January 30 Totals
