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Help Save & Required information Use the following information for the Exercises below. The following...

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Accounting

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Help Save & 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 Date Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Activities Units Acquired at Cost 150 units@ $7.50= $1, 125 Units sold at Retail 110 units @ $16.50 80 units@ $6.50 520 90 units @ $16.50 200 units@ $6.00 1, 200 Totals 430 units $2, 845 200 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 230 units, where 200 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory Exerclse 5-3 Perpetual: Inventory costing methods LO P1 2 of 6 Next > 1 Prev

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