Ch.5-Homework TSJESSY MATADOR\"Deca, × : + Homework Help Save & Required informa

Question

Ch.5-Homework TSJESSY MATADOR"Deca, × : + Homework 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 an. 1 derining iventory15 unis 510.00-53,50 139 units $9.0- 1,17 Jan-10 Sales 135 units $29. 34 units19. 5,045 The Company uses a perpetual ihventory system. 250 are from the January 30 purchase. For specific identification, ending inventory consists 5 are from the January 20 purchase, and 25 are from beginning 280 units, where Exercise 5-3 Perpetual: Inventory costing methods LO P1 C Prey67of9E Next

Explanation / Answer

Specific identification: Available for Sale Cost of Goods Sold Ending Inventory Purchase Date Activity Units Unit Cost Units Sold Unit Cost COGS Ending Inventory- Units Cost Per Unit Ending Inventory- Cost Jan. 1 Beginning inventory 175 $10.00 150 $10.00 $1,500 25 $10.00 $250 Jan. 20 Purchase 130 $9.00 125 $9.00 $1,125 5 $9.00 $45 Jan. 30 Purchase 250 $8.50 250 $8.50 $2,125 555 275 2625 280 $2,420

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