SPECIFIC IDENTIFICATION | ||||||||||
PURHASES | COST OF GOODS SOLD | ENDING INVENTORY | ||||||||
Date | Particulars | Units | Rate | Total | Units | Rate | Total | Units | Rate | Total |
Jan,01 | Beginning inventory | 175 | $ 10.00 | $1,750 | 150 | $ 10.00 | $1,500 | 25 | $ 10.00 | $250 |
Jan,20 | Purchases | 130 | $ 9.00 | $1,170 | 125 | $ 9.00 | $1,125 | 5 | $ 9.00 | $45 |
Jan, 30 | Purchases | 250 | $ 8.50 | $2,125 | 0 | $ - | $0 | 250 | $ 8.50 | $2,125 |
555 | $5,045 | 275 | $2,625 | 280 | $2,420 | |||||
WEIGHTED AVERAGE METHOD | ||||||||||
PURHASES | COST OF GOODS SOLD | ENDING INVENTORY | ||||||||
Date | Particulars | Units | Rate | Total | Units | Rate | Total | Units | Rate | Total |
Jan,01 | Beginning inventory | 175 | $ 10.00 | $1,750 | ||||||
Jan,10 | Sales | 135 | $ 10.00 | $1,350 | 40 | $ 10.00 | $400 | |||
Jan,20 | Purchases | 130 | $ 9.00 | $1,170 | 170 | $ 9.24 | $1,570 | |||
Jan,25 | Sales | 140 | $ 9.24 | $1,293 | 30 | $ 9.24 | $277 | |||
Jan, 30 | Purchases | 250 | $ 8.50 | $2,125 | 280 | $ 8.58 | $2,402 | |||
380 | $3,295 | 275 | $2,643 | 280 | $2,402 | |||||
FIFO - PERPETUAL METHOD | ||||||||||
PURHASES | COST OF GOODS SOLD | ENDING INVENTORY | ||||||||
Date | Particulars | Units | Rate | Total | Units | Rate | Total | Units | Rate | Total |
Jan,01 | Beginning inventory | 175 | $ 10.00 | $1,750 | ||||||
Jan,10 | Sales | 135 | $ 10.00 | $1,350 | 40 | $ 10.00 | $400 | |||
Jan,20 | Purchases | 130 | $ 9.00 | $1,170 | 40 | $ 10.00 | $400 | |||
130 | $ 9.00 | $1,170 | ||||||||
Jan,25 | Sales | 40 | $ 10.00 | $400 | ||||||
100 | $ 9.00 | $900 | 30 | $ 9.00 | $270 | |||||
Jan, 30 | Purchases | 250 | $ 8.50 | $2,125 | 30 | $ 9.00 | $270 | |||
250 | $ 8.50 | $2,125 | ||||||||
380 | $3,295 | 275 | $2,650 | 280 | $2,395 | |||||
LIFO - PERPETUAL METHOD | ||||||||||
PURHASES | COST OF GOODS SOLD | ENDING INVENTORY | ||||||||
Date | Particulars | Units | Rate | Total | Units | Rate | Total | Units | Rate | Total |
Jan,01 | Beginning inventory | 175 | $ 10.00 | $1,750 | ||||||
Jan,10 | Sales | 135 | $ 10.00 | $1,350 | 40 | $ 10.00 | $400 | |||
Jan,20 | Purchases | 130 | $ 9.00 | $1,170 | 40 | $ 10.00 | $400 | |||
130 | $ 9.00 | $1,170 | ||||||||
Jan,25 | Sales | 130 | $ 9.00 | $1,170 | ||||||
10 | $ 10.00 | $100 | 30 | $ 10.00 | $300 | |||||
Jan, 30 | Purchases | 250 | $ 8.50 | $2,125 | 30 | $ 10.00 | $300 | |||
250 | $ 8.50 | $2,125 | ||||||||
380 | $3,295 | 275 | $2,620 | 280 | $2,425 | |||||
P ELERISUOME Required information The following information applies to the questions displayed below. Laker Company reported...
[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 175 units $10.00 - $1.750 Units sold at Retail 135 units $19.00 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 140 units $19.00 130 units @ $ 9.00 - 250 units @ $ 8.50 - 555 units 1,170 3,125 $5,845 275 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. Date Units sold at Activities whits Aequired at copt Beginning 100 units $10.50 =$1,890 Jan. Inventory Jan. 10 Sales 140 units $19.50 Jan. 20 Purchase 110 units$ 9.50 - 1,045 Jan. 25 Sales 130 units $19.50 Jan. 30 Purchase 260 unitats 9.00 - 2,340 Totala 550 units $5,275 270 units The Company uses a perpetual...
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 155 units $8.00 - $1,240 Jan. 10 Sales 115 units $17.00 Jan. 20 Purchase 90 units $7.00 - 630 Jan. 25 Sales 95 units $17.00 Jan. 30 Purchase 210 unitse $6.50- 1,365 Totals 455 units $3,235 210 units Required: The Company...
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 van inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost Units sold at Retail 185 units @ $11.00 - $2,035 145 units @ $ 20.00 100 units @ $10.00 - 1,000 125 units @ $20.00 270 units @ $ 9.50 -...
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 200 unitse $12.50 - $2,500 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 130 units@ $11.50 - 1,495 160 units @ $21.50 140 units $21.50 Book 300 units@ $11.00 - 630 units 3,300 $7,295 300 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 Aequired at Cost Units sold at Retail Jan. 1 Beginning inventory 155 unitse $8.00 - $1,240 Jan. 10 Sales 115 units $17.00 Jan. 20 Purchase 90 units $7.00 - 630 Jan. 25 Sales 95 units # $17.00 Jan. 30 Purchase 210 unitse $6.50 - 1,365 Totals 455 units $3,235 210 units Date The...
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. Unita boquired at cost 200 units $16.50 - $ 3.960 Units sold at Retail 190 unite $25.50 Activities Jan. 1 Seginning Inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totale 170 units $15.50 - 2,635 190 units $25.50 $15.00 - 380 units 790 units 5,700 $12,295 300 units The Company...
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 Units sold at Retail 140 units$6.840 Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales an. 30 Purchase 100 units 15 60 units$5.00300 80 units 15 180 units $4.50-81e 380 units Totals $1,950 180 units Required The Company uses a periodic inventory system. For specific identification,...
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 Deginning Jenaventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost Units sold at Retail 240 units $16.50 $ 3.960 190 wita $25.50 170 units $15.50 - 2,635 190 units $25.50 380 units $15.00 - 5.700 790 units $12,295 380 wita Required: The Company uses...
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 185 unitse $11.00 - $2,035 145 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 units@ $ 9.50 - 555 units 2,565 $5,600 270...