the following January purchases and sales data for its only product

the following January purchases and sales data for its only product

the following January purchases and sales data for its only product Exercise 5-3 Perpetual: Inventory costing methods LO P1[The following information applies to the questions displayed below.]Laker Company reported the following January purchases and sales data for its only product. DateActivitiesUnits Acquired at CostUnits sold at Retail Jan.1 Beginning Inventory140 units@$6.00 =$840 Jan.10 Sales100 units@$15 Jan.20 Purchase60 units@$5.00 =300 Jan.25 Sales80 units@$15 Jan.30 Purchase180 units@$4.50 =810 Totals380 units$1,950180 units Laker Company uses a perpetual inventory system. For specific identification, ending inventory consists of 200 units, where 180 are from the January 30 purchase and 20 are from the January 20 purchase.rev: 11_27_2014_QC_58242, 01_20_2015_QC_CS-3903References Section BreakExercise 5-3 Perpetual: Inventory costing methods LO P1 2. Required information Exercise 5-3 Part 11.Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. rev: 01_20_2015_QC_CS-3903, 01_21_2015_QC_CS-3903Hints References eBook & Resources Hint #1Ask your instructor a questionCheck my work 3. Required information Exercise 5-3 Part 22.Determine the cost assigned to ending inventory and to cost of goods sold using weighted average.(Round cost per unit to 2 decimal places. Amounts to be deducted should be indicated with a minus sign.)rev: 08_14_2013_QC_33636 Hints References eBook & Resources Hint #1Ask your instructor a questionCheck my work 4. Required information Exercise 5-3 Part 33.Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. Hints References eBook & Resources Hint #1Ask your instructor a questionCheck my work 5. Required information Exercise 5-3 Part 44.Determine the cost assigned to ending inventory and to cost of goods sold using LIFO.

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