Question

Required 1 Required 2 Required 3 Required 4 Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. (Round cos places.) Specific Identification Available for Sale Cost of Goods Sold Ending Inventory Ending Ending Purchase Date Activity Units Unit Units Cost Per Unit Cost COGS Inventory. Inventory- Cost Sold Unit Units Cost Jan. 1 Beginning inventory 170 $ 9.50 145 $ 9.50 $ 1,378 25 $ 9.50 $ 238 Jan. 20 Purchase 120 $ 8.50 115 $ 8.50 $ 978 5 $ 8.50 $ 43 Jan. 30 Purchase 2401 $ 8. 000 240$ 8.00 $ 1,920 260 $ 2,356 270 $ 2,201 530 Required 2 >

Answer 1

inventory valuation - Microsoft Excel - X Home Insert Page Layout Formulas Data Review View Calibri - A DO General 11 - * Cut La Copy Format Painter Clipboard A A Wrap Text Merge & Center Fill Paste - BI U - Conditional Format Formatting as Table Styles Cell Styles Insert Delete Format Z Sort & Filter Editing Et Find & Select 2 Clear Font Alignment Number Cells f K22 A Ending Inventory Cost C D B G H I J K L M E F Laker Company Specific Identification Method (1) (C) (A)-(B) Cost of goods sold Available for Sale Units sold (Given) (0)*(11) (B) (C) (B)*(C) Ending Inventory Ending Cost of goods Units Cost per unit Inventory Cost 9.50 $ 1,377.50 25 $ 9.50 $ 237.50 8.50 $ 977.50 5 $ 8.50 $ 42.50 240 $ 8.00 $ 1,920.00 $ 2,355.00 $ 2,200.00 Cost Date of Purchas Activity Units 01-Jan Beginning Inve 20-Jan Purchases 30-Jan Purchases Total Units Cost 170 $ 9.50 120 $ 8.50 240 $ 8.00 530 Unit cost 145 $ 115 $ 260 270 Weighted Average Method Cost of goods sold Purchases Quantity in hand (units) (Y)(calculation) Date Unit cost Total Quantity Unit cost Total 130 $ 9.50 $ 1,235.00 Quantity 01-Jan 10-Jan 20-Jan 25-Jan 30-Jan Inventory on hand (Y)/(x) Quantity Unit cost 170 $ 40 $ 160 $ 30 $ 270 $ Total 9.50 $ 9.50 $ 8.75 $ 8.75 $ 8.08 $ 120 $ 8.50 $ 1,020.00 1,615.00 170 380.00 (170-130) 1,400.00 (40+120) 262.50 (160-130) 2,182.50 (30+240) (170*$9.50) (40*$9.50) (40*9.50+160*8.75) (30*$8.75) (30*8.75+240*8.08) 130 $ 8.75 $ 1,137.50 240 $ 8.00 $ 1,920.00 Anna 2701cnolo102 cl K Sheet62 Sheet63 Sheet64 Sheet65 Sheet66 Sheet67 Sheet68Sheet69 ™ Ready OU 100% - 11:13 22-02-2020 .

inventory valuation - Microsoft Excel - X Home Insert Page Layout Formulas Data Review View * Cut Copy Calibri - A DO General 1 Wrap Text Merge & Center - } 11 - Autosum A A Paste BI U - - % 8.09 Insert Delete Format Conditional Format Formatting as Table Styles Cell Styles Format Painter Clipboard 2 Clear Sort & Filter Editing Find & Select Font Alignment Number Cells f K22 A Ending Inventory Cost C D B E F G H I J K L M 27 Weighted Average Method Cost of goods sold Purchases Quantity in hand (units) (Y)(calculation) Date Unit cost Total Quantity Unit cost Total 130 $ 9.50 $ Quantity 01-Jan 10-Jan 20-Jan 25-Jan 30-Jan Inventory on hand (X) (Y)/(x) Quantity Unit cost 170 $ 1,235.00 40 $ 160 $ 1,137.50 30$ 270 $ 120 $ 8.50 $ Total 9.50 $ 9.50 $ 8.75 $ 8.75 $ 8.08 $ 1,020.00 1,615.00 170 380.00 (170-130) 1,400.00 (40+120) 262.50 (160-130) 2,182.50 (30+240) (170*$9.50) (40*$9.50) (40*9.50+160*8.75) (30*$8.75) (30*8.75+240*8.08) 130 $ 3.75 $ 240 $ 8.00 $ 1,920.00 360 $ 2,940.00 260 $ 2,372.50 270 $ 8.08 $ 2,182.50 40 41 42 Cost of goods sold=Opening Inventory+Purchases-Closing Stock 43 44 Purchases Unit cost FIFO Perpetual Inventory Method Cost of goods sold Total Quantity Unit cost Date Quantity Total 46 47 48 49 01-Jan 10-Jan 20-Jan Inventory on hand Quantity Unit cost 170 $ 40 $ 40 $ 120 130 $ 9.50 $ 1,235.00 Total 9.50 $ 1,615.00 9.50 $ 380.00 9.50 $ 380.00 con 1000 on 120$ 8.50 $ 1,020.00 K Sheet62 Sheet63 Sheet64 Sheet65 Sheet66 Sheet67 Sheet68 Sheet69_ 2 ™ Ready BOU 100% u OPAO ENG 0 11:13 22-02-2020 + S. W

inventory valuation - Microsoft Excel - X Home Insert Page Layout Formulas Data Review View * Cut Copy Calibri - A General 11 - A A Fill BI U - DO Wrap Text Merge & Center Alignment Paste Format Painter Clipboard 8.09 - % Number Conditional Format Formatting as Table Styles Cell Styles Insert Delete Format Cells Z Sort & Filter Editing Et Find & Select 2 Clear Font f Ending Inventory Cost C D B E F G H I J L M K22 A 42 3) 43 44 Purchases Unit cost FIFO Perpetual Inventory Method Cost of goods sold Total Quantity Unit cost Date Quantity Total 01-Jan 10-Jan 20-Jan 130 $ 9.50 $ Total 9.50 $ 9.50 $ 9.50 $ 8.50 $ 1,615.00 380.00 380.00 1,020.00 120 $ 8.50 Inventory on hand Quantity Unit cost 170 $ 1,235.00 40 $ 40 $ 120 $ 380.00 765.00 30 $ 30 $ 240 $ $ 1,020.00 25-Jan 40 $ 90 $ 9.50 $ 8.50 $ 30-Jan 240 $ 8.00 $ 1,920.00 8.50 $ 8.50 $ 8.00 $ 255.00 255.00 1,920.00 $ 2,380.00 270 $ 2,175.00 260 FIFO: Units which purchased first should be disposed first LIFO Perpetual Inventory Method Purchases Cost of goods sold Quantity Unit cost Total Quantity Unit cost 01-Jan 10-Jan 130 $ 20-Jan 120$ 8.50 $ 1,020.00 Date Total Inventory on hand Quantity Unit cost 170$ 40 $ 40 $ 120 $ 9.50 $ 1,235.00 Total 9.50 $ 9.50 $ 9.50 $ 8.50 $ 1,615.00 380.00 380.00 1,020.00 63 64 K Sheet62 Sheet63 Sheet64 Sheet65 Sheet66 Sheet67 Sheet68. Sheet69 ™ Ready OU 100% ^ ENG gol 11:13 22-02-2020 W

inventory valuation - Microsoft Excel - X Home Insert Page Layout Formulas Data Review View * Cut Copy General 1 1 - 3 Autosum * Calibri 11 - A A BI U - ->-A Font Paste Format Painter Clipboard ♡ - Wrap Text Merge & Center Alignment 8.09 - % Number Conditional Format Formatting as Table Styles Cell Styles Insert Delete Format Cells 2 Clear Sort & Find & Filter Select Editing M65 A H I J K L 57 58 4) 59 fix B C D E F G FIFO: Units which purchased first, should be disposed first LIFO Perpetual Inventory Method Purchases Cost of goods sold Quantity Unit cost Total Quantity Unit cost 01-Jan 10-Jan 130 $ 20-Jan 120 $ 8.50 $ 1,020.00 60 Date Total Inventory on hand Quantity Unit cost 170 $ 40 $ 40 $ 120$ 9.50 $ 1,235.00 Total 9.50 $ 9.50 $ 9.50 $ 8.50 $ 1,615.00 380.00 380.00 1,020.00 25-Jan 120 $ 10 $ 8.50 $ 9.50 $ 1,020.00 95.00 30-Jan 240 $ 8.00 $ 1,920.00 30$ 30$ 240 $ 9.50 $ 9.50 $ 8.00 $ 285.00 285.00 1,920.00 260 $ 2,350.00 270 $ 2,205.00 LIFO: Units which purchased last, should be disposed first 79 Ro K Sheet62 Sheet63 Sheet64 Sheet65 Sheet66 Sheet67 Sheet68. Sheet69 ™ Ready + BOJ 100% 0 11:14 op ^ ENG 22-02-2020