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you dont need to show any step, just filling these charts thank you so much Laker Company reported the following January purchases and sales data
you dont need to show any step, just filling these charts thank you so much
Laker Company reported the following January purchases and sales data for its only product. Activities Units Acquired at Cost Units sold at Retail Date Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase 145 unitse $7.00 $1,015 70 units e $6.00420 190 units e $5.50-1,045 105 units $16.00 85 units $16.00 Totals 405 units $2,480 190 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 215 units, where 190 are from the January 30 purchase, 5 are from the January 20 purchase, and 20 are from beginning inventory: Exercise 6-3 Perpetual: Inventory costing methods LO P1 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 the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification Specific Identification Available for Sale Cost of Goods Sold Ending Inventory Unit Cost Units Sold Ending Ending Cost Per Inventory Cost urchase Date Activity Units Unit Cost COGS Inventory Units Jan. 1 Jan. 20 Jan. 30 Beginning inventory Purchase Purchase 145 70 190 405 Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal place Weighted Average Perpetual s Purchas ost of Goods Sold Inventory Balance #of units Cost per unit #of units Cost per Cost of sold Cost per Inventory Balance Date January 1 January 10 January 20 Goods Sold # of units unit unit 145@| $ 7.00?=| $1.015.00 Average cost January 25 January 30 TotalsStep by Step Solution
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