Question: help please Required information Use the following information for the Exercises 3-7 below. (Algo) (The following information applies to the questions displayed below! Laker Company

help please
help please Required information Use the following information for the Exercises 3-7
below. (Algo) (The following information applies to the questions displayed below! 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

Required information Use the following information for the Exercises 3-7 below. (Algo) (The following information applies to the questions displayed below! 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 275 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory Units Acquired at Cost 175 units @ $10.00 hits sold at Retail 51,750 Date January 1 Tonuary 10 January 20 January 25 January 10 135 units $19.00 Activities Beginning watory Sales Purchase Sales Purchase Total 100 units $9.00 1,170 140 units $ 19.00 $7.00 275 unit Sunits 1,25 5.4.045 225 units Exercise 5-3 (Algo) Per uol: Inventory costing methods LO P1 Required: 1. Complete the table to determine the cost assigned to ending ventory 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 soktug FIFO 4. Determine the cost assigned to ending inventory and to cost of solf using LIFO. Goods Purchased Date Perpetual LEO Cost of Goods Sold of units Cost per Cost of Goods sold unit Sold #ol units Cost per Inventory Balance #of units Cost per Inventory Balance unit 175 at $ 10.00 1.750.00 January 1 January 10 135 at $ 10.00 - $1,350.00 400 00 130 at 9.00 40 at $ 10.00 40 at $10.00 130 at $ 900 400.00 January 20 1 170.00 Total January 20 1.570.00 at $ 9.00 $ 0.00 at $10.00 January 25 Total January 25 275 at 7.00 at $10.00 January 30 at 37.00 Totals uuus Inventory Balance Date Pernetual FIFO: Cost of Goods Sold #of units Cost per Cost of Goods sold unit Sold Goods Purchased #of units Cost per unit Cost per of units unit Inventory Balance January 1 175 at $10.00 $ 1,750.00 January 10 135 at $ 10,00 $ 1,350.00 40 at $10.00 $ 400.00 130 S 9.00 400.00 January 20 40 at $10.00 = 15 130 at $ 9.00 $ 1.170.00 1.570.00 Total January 20 at 5 10.00 5 5 0.00 at $10.00 January 25 at $ 900 0.00 at $9.00 Total January 25 275 a $ 7.00 at January 30 at $ 10.00 59.00 $ 700 Totals Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal places Goods Purchased Inventory Balance Weighted Average - Perpetual: Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Date of units Cost per # of units Cost per unit Inventory Balance January 1 175 at 5 10.00 $ 1,750.00 January 10 135 ats 1000 = $1,350.00 40 ats 10.00 = $ 400.00 130 at $ 9.00 5 40 at 5 130 at $ 170 at 10.00 9.00 January 20 Average cost January 20 January 25 400.00 1,170.00 1,570.00 $ 140 at 275 a $ 700 January 30 275 ats 7.00 1925.00 5 1 350.00 275 at Totals Specific ld FIFO >

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