Question

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. Units Acquired at Cost Units sold at Retail 140 units$6.840 Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales an. 30 Purchase 100 units 15 60 units$5.00300 80 units 15 180 units $4.50-81e 380 units Totals $1,950 180 units Required The Company uses a periodic inventory system. For specific identification, ending inventory consists of 200 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c) FIFO, and (a) LIFO Complete this question by entering your answers in the tabs below Weighted Average Specific Id FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using specific identification. For specific identification, ending inventory consists of 200 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory a) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost per Available for sold Cost of Goods | # of units # of units | Cost #Of units unit Cost per Ending unit | Goods Sold | ending | er unitInventory Sale invent Beginning inventory Purchases Jan. 20 Jan. 30 Total

Answer 1

takes comranv COSt of G1oods AvailCOSIof GIDOd nding sold nventoy sale Cost Cost oorunih cos Endn oni ai fo sok Unit sold fu G100 solad nding i S Puechases 18 is 6 an san 3086 to1a 330 $ 4.50 l0 0 80 $9.50 5810 1150 1go E1022-1.200 | - 5920 lweighted Avesage cost of Grood Availatle sale Lar COSI of Good solc 6 340 Puachoses 150 1305.13 923-4 20o 55.13 51025 TOtC CoSt Pndiヴェnvenowy 200 S.13 阝 1026