Maurice Tutor

(5)

$15/per page/Negotiable

About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 398 Weeks Ago, 6 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 04 Apr 2018 My Price 9.00

Laker Company

Exercise 5-5A Periodic: Inventory costing LO P3

Laker Company reported the following January purchases and sales data for its only product.

  

Date Activities Units Acquired at Cost Units Sold at Retail
  Jan. 1   Beginning inventory   140 units @ $6.00 = $ 840          
  Jan. 10   Sales                 100 units @$15  
  Jan. 20   Purchase   60 units @ $5.00 =   300          
  Jan. 25   Sales                 80 units @$15  
  Jan. 30   Purchase   180 units @ $4.50 =   810          
                                 
          Totals   380 units     $ 1,950   180 units    
                                 
 

  

Laker uses a periodic inventory system. For specific identification, ending inventory consists of 200 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c) FIFO, and (d) LIFO. (Round cost per unit to 3 decimal places.)
 
 
a) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory
  # of units Cost per unit Cost of Goods Available for Sale # of units sold Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory
Beginning Inventory 1 2   3     4    
Purchases:                  
Jan. 20 5 6   7     8    
Jan. 30 9 10   11     12    
Total 0   $0 0   $0 0   $0
                   
b) Average Cost Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory
  # of units Average Cost per unit Cost of Goods Available for Sale # of units sold Average Cost per Unit Cost of Goods Sold # of units in ending inventory Average Cost per unit Ending Inventory
Beginning Inventory                  
Purchases:              
Jan. 20                  
Jan. 30                  
Total 0   $0     $0     $0
                   
c) FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory
  # of units Cost per unit Cost of Goods Available for Sale # of units sold Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory
Beginning Inventory   $0.00              
Purchases:                  
Jan. 20   $0.00              
Jan. 30   $0.00              
Total 0   $0 0   $0 0   $0
                   
d) LIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory
  # of units Cost per unit Cost of Goods Available for Sale # of units sold Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory
Beginning Inventory 0 $0.00              
Purchases:                  
Jan. 20 0 $0.00              
Jan. 30 0 $0.00              
Total 0   $0 0   $0 0   $0
 

Answers

Maurice Tutor
(5)
Status NEW Posted 04 Apr 2018 06:04 PM My Price 9.00

Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------acq-----------uis-----------iti-----------on -----------of -----------my -----------pos-----------ted----------- so-----------lut-----------ion-----------.Pl-----------eas-----------e p-----------ing----------- me----------- on-----------cha-----------t I----------- am----------- on-----------lin-----------e o-----------r i-----------nbo-----------x m-----------e a----------- me-----------ssa-----------ge -----------I w-----------ill----------- be-----------

Not Rated(0)