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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. Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 150 units@ $7.50 - $1,125 Jan. 10 Sales 110 units@ $16.50 Jan. 20 Purchase 80 units@ $6.50 = 520 Jan. 25 Sales 90 units@ $16.50 Jan. 30 Purchase 200 units@ $6.00 11.200 Totals 430 units $2,845 200 units Required: The Company uses a periodic inventory system. For specific identification, ending inventory consists of 230 units, where 200 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory. Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification () weighted average, a FIFO, and (d) LIFO, Complete this questions by entering your answers in the below tabs. Weighted Average Specific ld FIFO LIFO Determine the cost assigned to ending Inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal places.) b) Average Cost Cost of Goods Available for Sale Average cost of Goods # of units Cost per Available for unit Sale Cost of Goods Sold # of units Average Cost of sold Unit Ending Inventory of units Average Ending Cost per in ending Inventory unit Inventory Cost per Goods Sold Prev 1 2 of 2 !!! Next > Check my work 1 Required: The Company uses a periodic inventory system. For specific identification, ending inventory consists of 230 units, where 200 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory. Determine the cost assigned to ending inventory and to cost of goods sold using() specific identification, () weighted average. (FIFO, and (UFO. Part 1 of 2 Complete this questions by entering your answers in the below tabs. 50 points Specific Id Weighted Average FIFO LIFO Book Determine the cost assigned to ending Inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal places.) b) Average Cost Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Average cost of Goods Arerage W of units Cost n Hof units Average W of units Cost per Ending Available for sold unt Cost per CON pe Goods Sold ending Inventory Inventory unit Beginning inventory 150 $ 1.125 Purchases Jan. 20 BO 520 Jan. 30 200 1.200 Total 430 2,845 $ 0 References Specified FO > ME CEW Prev 2 Next 2 Complete this questions by entering your answers in the below tabs. Specific Id Weighted LIFO Average FIFO Determine the cost assigned to ending inventory and to cost of goods sold using specific identification. For specific identification, ending inventory cons 230 units, where 200 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory. a) Specific Identification Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost per Cost of Goods # of units Available for unit Sale 150 $ 7.50 $ 1,125 # of units Cost per sold unit Cost of Goods Sold # of units In ending inventory Cost per unit Ending Inventory Beginning inventory Purchases: Jan. 20 Jan. 30 Total 80 $ 6.50 200 $ 6.00 520 1,200 2,845 430 $ 0 S 0 O $ 0 Weighted Average > CO Next > The Company uses a periodic inventory system. For specific identification, ending inventory consists of 230 units, where 200 are from the January 30 purchase. 5 are from the January 20 purchase, and 25 are from beginning inventory. Determine the cost assigned to ending inventory and to cost of goods sold using ( specific identification () weighted average. (FIFO, and (LIFO. Part 1 of 2 Complete this questions by entering your answers in the below tabs. 60 aints Specified Weighted Average Euro uro Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. eBook c) FIFO Cost of Goods Sold Cost of Goods Available for Sale Cost per Cost of Goods of units unit Available for Sale 150 7.50 $ 1.125 of units Cost per sold unt Cost of Goods Sold Ending Inventory of units Cost Ending In ending per unit Inventory Inventory References Beginning inventory Purchases Jan. 20 Jan. 30 80 200 430 6.50 6.00 520 1.200 2,845 $ 0 Tot $ 0 0 $ 0 Check my work 1 Required: The Company uses a periodic inventory system. For specific identification, ending inventory consists of 230 units, where 200 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory. Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, () weighted average. (FIFO, and () LIFO. art 1 of 2 Complete this questions by entering your answers in the below tabs. 0 Dints Cost per Specific id Weighted FIFO Average UFO Determine the cost assigned to ending inventory and to cost of goods sold using uro. d) LIFD Cost of Goods Available for Sale Cost of Goods Sold Cost of Goods of units of units Cost per unit Available for Cost of sold unit Sale Goods Sold Beginning inventory 150 7.50 S 1.125 Purchases Jan 20 80 6.50 520 Jan 30 200 6.00 1.200 430 $ 2,845 0 $ 0 Ending Inventory #of units Cost In ending Ending per unit Inventory Inventory HI References Total 0 $

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