A-6 Required information[The following information applies to the questions displayed below.]Laker Company reported the following January purchases and sales data for its only product. For specific identification.ending inventory consists of 200 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 unitsfrom beginning inventory.DateJanuary 1January 10January 20January 25January 30ActivitiesBeginning inventorySalesPurchaseSalesPurchaseTotalsAssume the perpetual inventory system is used.Required:Units Acquired at Cost$7.50-150 units @@80 unit200 units430 units$ 6.50 =$6.00 -$ 1,1255201,200$ 2,845Units sold at Retail110 units. @90 units200 units$16.50$ 16.501. 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.

Name: A-6 Required information[The following information applies to the ques
Uploaded: 2024-03-20T06:32:37.000Z
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Description: A-6 Required information[The following information applies to the questions displayed below.]Laker Company reported the following January purchases and sales data for its only product. For specific identification.ending inventory consists of 200 unit