# onnect.mheducation.comflowconnect.html mapters 4, 5, 6) Saved Requi.docx

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onnect.mheducation.com/flow/connect.html mapters 4, 5, 6) Saved Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below Laker Company reported thefollowing January purchases and sales data for its only product. Units Acquired at Cost 185 [email protected] \$11.00 \$2,035 50Date Activities Units sold at Retail Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase 145 units \$20.00 100 [email protected] \$10.00 1, 000 125 units e \$20.00 270 [email protected] \$ 9.50 555 units 2,565 Totals \$5, 600 270 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 285 units, where 270 are from the January 30 purchase, 5 are from the January 20 purchase, and 10 are from beginning inventory. Exercise 5-3 Perpetual: Inventory costing methods LO P1 Required: 1. 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