work saved Help 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 Retail Units Acquired at Cost 195 units@ $12.00 = $2,340 155 unitse S 21.00 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 120 units@ $11.00 - 1,320 135 units $21.00 290 unitse $10.50 - 605 units 3,045 $6,705 290 units The Company uses a perpetual inventorydsystem. For specific identification, ending inventory consists of 315 units, where 290 are from the January 30 purchase, 5 are from the January 20 purchase, and 20 are from beginning inventory, Exercise 5-3 Perpetual: Inventory costing methods LO P1 Prey 1 N of 6 Next > Required information 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 cost places.) Specific Identification Available for Sale Cost of Goods Sold Purchase Date Activity Units Unit Cost Units Sold Unit Cost COGS 195 $12.00 Jan. 1 Jan. 20 Jan. 30 Beginning inventory Purchase Purchase Ending Inventory Ending Cost Per Ending Inventory Unit Inventory- Units Cost 20 $ 12.00 $ 240 5 $ 11.00 $ 55 290 $ 10.50 $ 3,045 315 $ 3,340 195 $ 12.00 $ 20 $ 11.00 $ 290 $ 10.50 $ 605 $ 120 $ 11.00 290 $ 10.50 605 2,340 1,320 3,045 6,705 Route Required 2 > Prey 1 2 of 6 !!! Next > Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 Weighted Average - Perpetual: Goods Purchased Cost of Goods Sold Inventory Balance # of #of Cost per Date Cost per Cost of Goods Cost per Inventory units # of units units unit unit Sold unit Balance sold January 1 195 @ $ 12.00 = $ 2,340.00 January 10 155 @ $ 21.00 $ 3,255,00 January 20 1201 $ 11.00 120 @ $ 11.00 - 1,320.00 Average cost 120 @ $ 1,320.00 January 25 $ 21.50 = $ 2,902.50 135) January 30 290 @ $ 10.50 3,045.00 290 @ $ 10.50 - 290 Totals $ 6,157.50 Prey 1 of 6 Next > N Homework Saved Required information Perpetuairir: Goods Purchased Cost of Goods Sold 12 Cost per Inventory Balance Cost per Inventory # of units unit Balance Date of units # of units sold Cost per unit Cost of Goods Sold unit January 1 195 @ $ 12.00 = $ 2,340.00 January 10 155 $ 21.00 $ 3,255.00 $ 12.00 = January 20 120 $ 11.00 $12.00 $ 11.00 nt January 25 ences January 30 290 $ 10.50 $ 10.50 Totals Prey 1 2 of 6 Next > Required information Perpetual LIFO: Goods Purchased #of units unit Cost per Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Inventory Balance # of units Inventory unit Balance Date Cost per January 1 195 $ 12.00 - $ 2,340.00 155 $ 21.00 $ 3.255.00 $ 12.00 = January 10 January 20 120 $ 11.00 See $ 12.00 $ 11.00 January 25 aces January 30 290 $ 10.50 $ 10.50 Totals Prey 1 2 of 6 Next >