Laker company uses a perpetual inventory system. For specific identification, ending inventory cosists of 240 units, where 100 are from the january 30 purchase. 75 are from the january 20 purchase, and 65 are from the beginning inventory.

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702 viewsOctober 9, 2016

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Darshita 6.14K October 9, 2016 0 Comments

Date	Activities	Units acquired at cost	Units sold at retail
1-Jan	Beginning Inventory	160 units @ $7.20= $1,152
10-Jan	Sales		95 units @ 15.20
20-Jan	Purchase	230 Units @ 6.20 = 1,426
25-Jan	Sales		155 Units @ 15.20
30-Jan	Purchase	100 units at 5.20= 520

	Totals	490 units $3,098	250 Units

Laker company uses a perpetual inventory system. For specific identification, ending inventory cosists of 240 units, where 100 are from the january 30 purchase. 75 are from the january 20 purchase, and 65 are from the beginning inventory.

1 Answer

score 0 · Answer 1 · 2016-10-09T15:21:54+00:00

date	Goods	Purchased Cost	cost of	Goods “	Sold	Inventory balance	Cost	Amount
Jan 1						160	7.2	1152
Jan 10			95	7.2	684	65	7.2	468
20-Jan	230	6.2				65	7.2	468
						230	6.2	1426
25-Jan			155	6.2	961	65	7.2	468
						75	6.2	465
30-Jan	100	5.2				65	7.2	468
						75	6.2	465
						100	5.2	5200
Total			250		1645	240		6133

1 Answer

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