60.1K

Verified Solution

Link Copied!

help asap

1

[The following information applies to the questions displayed below] Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of 180 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. issume the perpetual inventory system is used. 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. Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specilic identification. Assume the perpetual inventory system is used Required: 1. Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identfication 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 soid 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. Determine the cost assigned to ending inventory and to cost of goods sold using weighted swerage. Mote: Round cost pet unit to 2 dedimal places. 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. Determine the cost assigned to ending inventory and to cost of goods sold using fiFo. 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 imventory and to cost of goods sold using FFF. 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. Determine the cost assigned to ending inventory and to cost of goods sold using Lifo

Answer & Explanation Solved by verified expert

See Answer