Income statements
For month ended January 31
Specific identification | Weighted average | FIFO | LIFO | |
Sales | 310*22 = 6820 | 6820 | 6820 | 6820 |
Cost of goods sold | 7910-4015 = 3895 | 1772+2145 = 3917 | 3925 | 3890 |
gross profit | 2925 | 2903 | 2895 | 2930 |
Expenses | 1900 | 1900 | 1900 | 1900 |
Income before taxes | 1025 | 1003 | 995 | 1030 |
Income tax expense | 410 | 401 | 398 | 412 |
Net income | 615 | 602 | 597 | 618 |
[The following information applies to the questions displayed below.] Laker Company reported the following January purchases...
Required information Use the following information for the Exercises below. [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 205 units @ $ 13.00 = $ 2,665 Jan. 10 Sales 165 units @ $ 22.00 Jan. 20 Purchase 140 units @ $ 12.00 = 1,680 Jan. 25 Sales 145 units...
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 sold at Retail Units Acquired at Cost 225 units@ $15.00 = $ 3,375 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 2,520 180 units @ $14.00 = 350 units @ $13.50 = 755 units 175 units @ $24.00 210 units @ $24.00 4,725...
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. IN Units Acquired at Cost 185 units@ $11.00 – $2,035 Units sold at Retail 145 units @ $20.00 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 100 units $10.00 - 1,000 125 units @ $20.00 270 unitse $ 9.50 - 555 units 2,565 $5,600...
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 Jan. 1 Beginning inventory Jan. 10 Sales Jan. 2e Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost Units sold at Retail 180 units @ $10.50 = $1,898 140 units @ $19.50 110 units @ $ 9.50 = 1,845 130 units@ $19.50 278 units @ $ 9.00 = 2,430 568...
Required information The following information applies to the questions displayed below) of 2 Laker Company reported the following January purchases and sales data for its only product. Units sold at Date Activities Units Acquired at Cost Retail Jan. 1 Beginning inventory 140 units @ $6.00 - $ 840 Jan. 10 Sales 100 units @ $15 Jan. 20 Purchase 6 units @ $5.00 300 Jan. 25 Sales 80 units @ $15 Jan. 30 Purchase 180 units @ $4.58 = 810 Totals...
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 225 units @ $ 15.00 = $ 3,375 Jan. 10 Sales 175 units @ $ 24.00 Jan. 20 Purchase 180 units @ $ 14.00 = 2,520 Jan. 25 Sales 210 units @ $ 24.00 Jan. 30 Purchase 350 units @ $...
I cant find my mistake. Can someone please help? Chapter 5 Exercises MHE Reader Check my 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 205 units@ $13.00 = $2,665 Units sold at Retail Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 140 units@ $12.00 = 1,680 165 units...
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 Activities Units Acquired at Cost 225 units @$15.00 3,375 Units sold at Retail Date 1 Beginning inventory Jan. 175 units $24.00 Sales T 180 units @$14.00 2,520 ase 210 units $24.00 Jan. 25 Sales 385 units @$13.0e0 Jan. 30 Purchase 5,e05 790 units $10,900 385 units Totals Required: 1. Complete comparative income statements for the...
Complete the Income Statement for Laker Company Laker Company reported the following January purchases and sales data for its only product. Units sold at Retail Units Acquired at Cost 190 units@ $7.00 - $1,330 150 units @ $16.00 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase 110 units@ $6.00 = 660 130 units @ $16.00 280 units@ $5.50 - 580 units 1,540 $3,530 Totals 280 units The Company uses a...
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 195 units @ $ 12.00 = $ 2,340 Jan. 10 Sales 155 units @ $ 21.00 Jan. 20 Purchase 120 units @ $ 11.00 = 1,320 Jan. 25 Sales 135 units @ $ 21.00 Jan. 30 Purchase 290 units @ $...