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required information the following information applies to the questions displayed be 4291349

 

Required information The following information applies to the questions displayed below. Laker Company reported the following January purchases and sales data for its only product. Pert 1 of 2 DateActivities an 1 Beginning inventory Jan. 10 Sales an. 20 Purchase an. 25 Sales an. 30 Purchase Units sold at Retail 125 units$18.90 125 units $18.90 Units Acquired at Cost 165 units$9.00 $1,485 118 units$8.99-888 23e units @ $7.5. =S4,725 Totals 505 units $4,090 250 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 255 units, where 230 are from the January 30 purchase, 5 are from the January 20 purchase, and 20 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 questlons by entering your answers in the below tabs. Required 1 Required 2Required 3 Required 4 Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. Specific ldentification Available for Sale t of Goods S Inventory Cost Per Ending Inventory Unit Units Ending Date Activity Cost Sold Unit Cost UnitsUnit Inve Jan. 1 Jan. 20 Jan. 30 Beginning inventory Purchase Purchase 165 110 230 505 Required 1 Required 2>

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