answer this question using the information provided 1 10505 125g?D-oces ni ?Not

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answer this question using the information provided

1 10505 125g?D-oces ni ?Not secure l ezto.mheducation.com/hm.tpx/.05 / Questions 1-8 (of 15) Exercise 5-3 Perpetual: Inventory costing methods LO P1 The following information applies to the questions displayed below.j Laker Company reported the following January purchases and sales data for its only product Units Acquired at Cost 160 units @ $ 720 230 units @ $6.20# 1.426 100 units $5.20 520 490 units Units sold at Retail 95 units @ $15.20 155 units $15.20 Activities Date Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase $ 1.152 Totals $3,098 250 units Required: The company uses a perpetual inventory system. For specific identification, ending inventory consists of 240 units, where 100 are from the January 30 purchase, 80 are from the January 20 purchase, and 60 are from beginning inventory References Section Break Exercise 5-3 Perpetual: Inventory costing methods LO P1

Explanation / Answer

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 160 7.20 100 7.20 720 60 7.20 432 Jan. 20 purchase 230 6.20 150 6.20 930 80 6.20 496 Jan. 30 purchase 100 5.20 100 5.20 520 490 250 1650 240 1448

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