Inventising costing methods The company uses a periodic inventory system. For specific...
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Accounting
Inventising costing methods
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 the beginning inventory.
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 100 units $15 80 unts $15 180 units Activities Units Acquired at Cost Date Jan. 1 Beginning Inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase 140 units $6.00-$ 840 60 units $5.00- 300 180 units $4.50-810 380 units $1,950 Totals
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