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  3. #2 laker co reported the following january purch

#2 Laker Co reported the following January purchases and sales data for its...

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Accounting

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Laker Co reported the following January purchases and sales data for its only product Jan 1 Beg. Inventory 200 @ $7.00 = $1,400 Jan 10 Sales 160 @ $18.00 = $2,880 Jan 20 Purchase 150 @ $6.80 = 1,020 Jan 25 Sales 100 @ $18.00 = 1,800 Jan 30 Purchase 100 @ $6.00 = 600 450 units $3,020 260 units $4,680 Calculate the ending inventory as of Jan 31st using the FIFO method. Calculate the cost of goods sold for the month of January

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