Exercise 6-1 (a)

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

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Laker uses a perpetual inventory system. Ending inventory consists of 190 units, 100 from the January 30 purchase, 70 from the January 20 purchase, and 20 from beginning inventory. Determine the cost assigned to ending inventory and to cost of goods sold using (b) weighted average.

 

 

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