Laker Company reported the following January purchases and sales data for its only product.
Laker Company reported the following January purchases and sales data for its only product.
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.
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Laker Company reported the following January purchases and sales data for its only product.
Laker Company reported the following January purchases and sales data for its only product. Units sold...
Laker Company reported the following January purchases and sales data for its only product. Units sold at Retail Units Acquired at Cost 165 units@ $9.00 = $1,485 125 units @ $18.00 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 110 units@ $8.00 = 880 125 units @ $18.00 230 units@ $7.50 = 505 units 1,725 $4,090 250 units The Company uses a perpetual inventory system. For specific identification, ending...
Laker Company reported the following January purchases and sales data for its only product. Date Activities...
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 = 1,200 Totals 430 units $ 2,845 200 units The...
Laker Company reported the following January purchases and sakes data for its only product Required information...
Laker Company reported the following January purchases and
sakes data for its only product
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. old at Retail Units Acquired at Cost 165 units@ $9.00 - $1,485 125 units $18.00 - Activities Jan 1 Beginning inventory Jan 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 110 units $8.00 125 units $18.00 $2.50...
Laker Company reported the following January purchases and sales data for its only product. Date Activities...
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 200 units @ $ 12.50 = $ 2,500 Jan. 10 Sales 160 units @ $ 21.50 Jan. 20 Purchase 130 units @ $ 11.50 = 1,495 Jan. 25 Sales 140 units @ $ 21.50 Jan. 30 Purchase 300 units @ $ 11.00 = 3,300 Totals 630 units $ 7,295 300 units The...
Laker Company reported the following January purchases and sales data for its only product. I...
Laker Company reported the following January purchases and sales data for its only product. I have already calculated the Specific Id & Weighted Average. I need help calculating the (x) for FIFO Laker Company reported the following January purchases and sales data for its only product. DateActivitiesUnits Acquired at CostUnits sold at Retail Jan.1Beginning inventory215 units@$14.00=$3,010 Jan.10Sales 165 units@$23.00 Jan.20Purchase160 units@$13.00= 2,080 Jan.25Sales 190 units@$23.00 Jan.30Purchase355 units@$12.00= 4,260 Totals730 units $9,350 355 units Required: The Company uses a periodic...
Laker Company reported the following January purchases and sales data for its only product. Date Activities...
Laker Company reported the following January purchases and sales data for its only product. Date Activities Units Acquired at Cost Exercise 6-3 Perpetual: Inventory costing methods P1 Units Sold at Retail 140 units @ $6.00 = $ 840 100 units @ $15 Jan. 1 Jan. 10 Jan. 20 Jan. 25 Jan. 30 Beginning inventory ... Sales... Purchase .. Sales..... Purchase .. Totals 60 units @ $5.00 = 300 80 units @ $15 180 units @ $4.50 = 810 380 units...
Laker Company reported the following January purchases and sales data for its only product Units Required...
Laker Company reported the following January purchases and sales data for its only product Units Required at Cost 240 unitat $16.50 - $3.960 Units sold at Retail Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Parehase Jan. 25 Sales Jan. 30 Purchase Totale 170 unital $15.50 - 2,635 190 units $25.50 190 units e $25.50 $15.00 - 380 units 790 units 5,700 $12,295 380 units The Company uses a perpetual Inventory system. For specific identification, ending Inventory...
Laker Company reported the following January purchases and sales data for its only product. Date Activities...
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 190 units @ $ 7.00 = $ 1,330 Jan. 10 Sales 150 units @ $ 16.00 Jan. 20 Purchase 110 units @ $ 6.00 = 660 Jan. 25 Sales 130 units @ $ 16.00 Jan. 30 Purchase 280 units @ $ 5.50 = 1,540 Totals 580 units $ 3,530 280 units The...
Laker Company reported the following January purchases and sales data for its only product. Date...
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 215 units @ $ 14.00 = $ 3,010 Jan. 10 Sales 165 units @ $ 23.00 Jan. 20 Purchase 160 units @ $ 13.00 = 2,080 Jan. 25 Sales 190 units @ $ 23.00 Jan. 30 Purchase 355 units @ $ 12.00 = 4,260 Totals 730 units $ 9,350 355 units...
Laker Company reported the following January purchases and sales data for its only product. Date Activities...
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 240 units @ $ 16.50 = $ 3,960 Jan. 10 Sales 190 units @ $ 25.50 Jan. 20 Purchase 170 units @ $ 15.50 = 2,635 Jan. 25 Sales 190 units @ $ 25.50 Jan. 30 Purchase 380 units @ $ 15.00 = 5,700 Totals 790 units $ 12,295 380 units The...
Laker Company reported the following January purchases and sales data for its only product. Units sold at Retail Units Acquired at Cost 165 units@ $9.00 = $1,485 125 units @ $18.00 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 110 units@ $8.00 = 880 125 units @ $18.00 230 units@ $7.50 = 505 units 1,725 $4,090 250 units The Company uses a perpetual inventory system. For specific identification, ending...
Laker Company reported the following January purchases and
sakes data for its only product
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. old at Retail Units Acquired at Cost 165 units@ $9.00 - $1,485 125 units $18.00 - Activities Jan 1 Beginning inventory Jan 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 110 units $8.00 125 units $18.00 $2.50...
Laker Company reported the following January purchases and sales data for its only product. Date Activities Units Acquired at Cost Exercise 6-3 Perpetual: Inventory costing methods P1 Units Sold at Retail 140 units @ $6.00 = $ 840 100 units @ $15 Jan. 1 Jan. 10 Jan. 20 Jan. 25 Jan. 30 Beginning inventory ... Sales... Purchase .. Sales..... Purchase .. Totals 60 units @ $5.00 = 300 80 units @ $15 180 units @ $4.50 = 810 380 units...
Laker Company reported the following January purchases and sales data for its only product Units Required at Cost 240 unitat $16.50 - $3.960 Units sold at Retail Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Parehase Jan. 25 Sales Jan. 30 Purchase Totale 170 unital $15.50 - 2,635 190 units $25.50 190 units e $25.50 $15.00 - 380 units 790 units 5,700 $12,295 380 units The Company uses a perpetual Inventory system. For specific identification, ending Inventory...
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