Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of 340 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 Activities Beginning inventory Sales Purchase Sales Purchase Totals Units Acquired at Cost 210 units @ $13.50 = 150 units @ $ 12.50 = 340 units @ 700 units $ 12.00- $ 2,835 1,875 4,080 $ 8,790 Units sold at Retail @ 160 units 180 units 340 units $ 22.50 $ 22.50

Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of 340 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 Activities Beginning inventory Sales Purchase Sales Purchase Totals Units Acquired at Cost 210 units @ $13.50 = 150 units @ $ 12.50 = 340 units @ 700 units $ 12.00- $ 2,835 1,875 4,080 $ 8,790 Units sold at Retail @ 160 units 180 units 340 units $ 22.50 $ 22.50

Name: how do i calculate the weighted average of cost of goods sold SalesCos
Uploaded: 2024-03-20T06:32:37.000Z
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Description: how do i calculate the weighted average of cost of goods sold SalesCost of goods soldGross profitLAKER COMPANYFor Month Ended January 31Weighted AverageSpecific Identification$$7,650 $4,4463,204 $7,650 $7,650$FIFO7,650 $4,4603,190$LIFO7,6504,0803,570

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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