When comparing the cost of goods sold and the value ending inventory in different method shows different value,
The highest cost of goods sold $5000 in LIFO method and the lowest cost of goods $ 3600 under LIFO method, at the same time these two method shows ending inventory value $ 3500, $ 4900 respectively
from the first image answer the questions. This needs to be turned in tommorrow so I...
Needs to be done on an excel with fifo, lifo, specific identification, weighted average, journal entries, and cogs plus ending inventory seperated and filled out. 3 Northgate Products Corp. sells gadgets and uses the perpetual inventory system. During the 4 month of January 2019, the number of gadgets purchased and sold was as follows: Purchased Sold Balance in inventory Date Units Unit cost Total $ Units Unit cost Total $ Total $ Units Unit cost 200 $2/ Jan. 1 3...
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...
Please answer completely and clear thanks! This is a multiple steps question. 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 200 units @ $12.50 = $2,500 Units sold at Retail 160 units @ $21.50 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 130 units@ $11.50 - 1,495 140...
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 140 units @ $6.00 = $ 840 Units sold at Retail 100 units @ $ 15 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 60 units @ $5.00 = 300 80 units @ $ 15 180 units @ $4.50 =...
Chapter 05 Homework i Saved Required information The following information applies to the questions displayed below.] Part 1 of 2 Laker Company reported the following January purchases and sales data for its only product. Units sold at Retail points Units Acquired at Cost 145 units @ $7.00 = $1,015 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 70 units @ $6.00 = 420 105 units @ 85 units @...
Chapter 05 Homework A Saved Required information [The following information applies to the questions displayed below.) Part 1 of 2 Laker Company reported the following January purchases and sales data for its only product. Units sold at Retail points Units Acquired at Cost 200 units @ $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...
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...
Additional tracking data for specific identification: (1) January 15 sale—200 units @ $14, (2) April 1 sale—200 units @ $15, and (3) November 1 sale—200 units @ $14 and 100 units @ $20. (1.) What is the Cost of Good Available for Sale ? How many units available for sale? (1 point) (2.) Using the Periodic System, determine Cost of Goods Sold (COGS) and Ending Inventory using one of the methods: Specific Identification, Weighted Average, FIFO or LIFO. Show your...
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. Units sold at Activities Units Acquired at Cost Retail Jan. 1 Beginning inventory 140 units @ $6.00 = $ 840 Jan. 10 Sales 100 units @ $15 Jan. 20 Purchase 60 units @ $5.00 = 300 Jan. 25 Sales se units @ $15 Jan. 30 Purchase 180...
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 Beginning Jan. 1 inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost Units sold at Retail 220 units@ $14.50 = $ 3,190 170 units@ $23.50 170 units@ $13.50 = 2,295 200 units @ $23.50 370 units@ $13.00 = 4,810 760 units $10,295 370 units...