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Chapter 12 ppts-HCC Lea M Details for your htt -3 Holp 0 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 JanDeginning inventory 240 unitel $16.50- 3,960 Jan. 10 Sales Jan. 20 Purchase 190 units$25.50 170 unita $15.50 2.635 380 unit 15.05 700 190 uaits25.50 Jan. 30 Purchase 12,295 380 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 410 units, where 380 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory Exercise 5-3 Perpetual: Inventory costing methods LO P1 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. Complete this questions by entering your answers in the below tabs. Prex 1of 1 Next

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