Question: How do you get the sales amount it marks mine wrong ? omework. Required information [The following information applies to the questions displayed below] Laker
omework. Required information [The following information applies to the questions displayed below] Laker Company reported the following January purchases and sales date for its only product. The Company uses a perpetual inventory system For specific identification, ending inventory consists of 180 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Units sold at Retail Date Acquired at Cost @$6.00- 140 units Activities Beginning inventory Sales Purchase Sales Purchase $ 840 300 810 January 1 January 10 January 20 January 25 January 30 60 units $15 @$15 9 $5.00 100 units 80 units 180 units e $4.50 188 units 380 units $1,950 Totals 2 Required: S 1. Compute gross profit for the month of January for Laker Company for the four inventory methods 2. Which method yields the high gross profit? 3. Does gross profit using weighted average fell between that using FIFO and LIFO? 4. If costs were rising instead of falling, which method would yield the highest gross profit? 0 wrenc Complete this question by entering your answers in the tabs below. Req1 Reg 2 to 4 Compute gross profit for the month of January for Laker Company for the four inventory methods. (Round cost per unit to 2 decimal places and final answers to the nearest whole dollars) LAKER COMPANY For Month Ended January 31 Specific Weighted identification Average FIFO LIFO Sa $ 1950 Colof goods sold Grose pest 923 1950 $1,950 1.040 1 810 1.027 $ 910 1.140 Req 2 to 4 > 1,950 $ 1,925 935 $ HALE V omework. Required information [The following information applies to the questions displayed below] Laker Company reported the following January purchases and sales date for its only product. The Company uses a perpetual inventory system For specific identification, ending inventory consists of 180 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Units sold at Retail Date Acquired at Cost @$6.00- 140 units Activities Beginning inventory Sales Purchase Sales Purchase $ 840 300 810 January 1 January 10 January 20 January 25 January 30 60 units $15 @$15 9 $5.00 100 units 80 units 180 units e $4.50 188 units 380 units $1,950 Totals 2 Required: S 1. Compute gross profit for the month of January for Laker Company for the four inventory methods 2. Which method yields the high gross profit? 3. Does gross profit using weighted average fell between that using FIFO and LIFO? 4. If costs were rising instead of falling, which method would yield the highest gross profit? 0 wrenc Complete this question by entering your answers in the tabs below. Req1 Reg 2 to 4 Compute gross profit for the month of January for Laker Company for the four inventory methods. (Round cost per unit to 2 decimal places and final answers to the nearest whole dollars) LAKER COMPANY For Month Ended January 31 Specific Weighted identification Average FIFO LIFO Sa $ 1950 Colof goods sold Grose pest 923 1950 $1,950 1.040 1 810 1.027 $ 910 1.140 Req 2 to 4 > 1,950 $ 1,925 935 $ HALE V
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