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. The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 260 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory. Date January 1 January 10 January 20 January 25 January 30 Activities Beginning inventory Sales Purchase Sales Purchase Totals Units Acquired at Cost $ 9.50 = $8.50 = 170 units @ 120 units @ 260 units 550 units 8.00 = Units sold at Retail $ 1,615 1,020 2,080 $ 4,715 260 units 130 units 130 units $ 18.50 $ 18.50 Required: 1. Complete the table to determine the cost assigned to ending inventory 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 sold using FIFO. 4. Determine the cost assigned to ending inventory and to cost of goods sold using LIFO.

The company uses a periodic inventory system. Determine the cost assigned to ending inventory using the specific identification method. Ending inventory consists of 270 units from the April 16 purchase, 80 units from the April 7 purchase, and 100 units from beginning inventory. I provided all that was givento answer my question A company's inventory records indicate the following data for the month of April: Units Acquired at Cost 770 units @ $36= $27,720 650 units @ $40 = $26,000 570 units @ $44 = $25,080 Date April 1 April 7 April 11 April 16 April 22 The comp Activities Beginning inventory Purchase Sale Purchase Sale Units Sold at Retail 1,140 units @ $110 400 units @ $110

A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 280 units. Ending inventory at January 31 totals 130 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Perpetual FIFO: Required: Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method. Date January 1 January 9 January 25 January 26 Totals Goods purchased # of units Cost per unit Units Unit Cost 250 60 100 # of units sold $2.30 2.50 2.64 Cost of Goods Sold Cost per Cost of Goods unit Sold Inventory Balance Cost per unit # of units Inventory Balance

[The following information applies to the questions displayed below.] Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of 270 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Date January 1 January 10 January 20 January 25 January 30 Assume the perpetual inventory system is used. Required: Activities Beginning inventory Sales Purchase Sales Purchase Totals Specific Identification Purchase Date January 1 January 20 January 30 Complete this question by entering your answers in the tabs below. FIFO Activity Units Acquired at Cost 180 units @ $10.50 = LIFO Available for Sale Beginning inventory Purchase Purchase 110 units 270 units @ 560 units # of units 1. Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. 2. Determine the cost assigned to ending inventory…

The Company uses a periodic inventory system. For specific identification, ending inventory consists of 200 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c) FIFO, and (d) 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.)

Laker Company reported the following January purchases and sales data for its only product. 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. Exercise 5 - 4 (Algo) Perpetual: Journalizing transactions LO P1 Record journal entries for Laker Company's sales and purchases transactions. Assume for this assignment that the company use perpetual inventory system and FIFO. All sales and purchases are made on account, and no discounts are offered. Journal entry worksheet Record the sale of goods. Note: Enter debits before credits. (Note there are 6 parts) 1) Record the sale of goods. 2) Record the cost of sale. 3) Record the purchase of inventory. 4) Record the sale of goods. 5) Record the cost of sale. 6) Record the purchase of inventory.

Beech Soda, Incorporated uses a perpetual inventory system. The company's beginning inventory of a particular product and its purchases during the month of January were as follows: Beginning inventory (January 1) Purchase (January 11) Purchase (January 20) Total Quantity 23 26 37 86 Unit Cost $ 25 $31 $ 33 Total Cost $ 575 806 1,221 $ 2,602 On January 14, Beech Soda, Incorporated sold 39 units of this product. The other 47 units remained in inventory at January 31. Assuming that Beech Soda uses the LIFO cost flow assumption, the cost of goods sold to be recorded at January 14 is:

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Beech Soda, Incorporated uses a perpetual inventory system. The company's beginning inventory of a particular product and its purchases during the month of January were as follows:     Quantity Unit Cost Total Cost Beginning inventory (January 1) 24 $ 19 $ 456 Purchase (January 11) 20 $ 25 500 Purchase (January 20) 31 $ 27 837 Total 75   $ 1,793   On January 14, Beech Soda, Incorporated sold 33 units of this product. The other 42 units remained in inventory at January 31.   i) Assuming that Beech Soda uses the first-in, first-out (FIFO) cost flow assumption:   The cost of goods sold to be recorded at January 14 is:            $_______________________________     The cost of ending inventory at January 31 is:            $ _____________________________         ii). Assuming that Beech Soda uses the Last-in, first-out (LIFO) cost flow assumption:   The cost of goods sold to be recorded at January 14 is:…

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