The purchases of these guides from the offshore supplier have been received by Study Solutions as follows:
Opening inventory at 1 January 2023 Nil
Purchases on 10 January 2023 950 units @ $3.00
Purchases on 27 February 2023 600 units @ $3.50
Purchases on 06 March 2023 800 units @ $3.80
Study Solutions sold 1,750 guides to major universities during the March 2023 quarter (from 1 January 2023 to 31 March 2023). Details of the sales are as follows:
22 January 2023 TIMR University 600 units @ $6.00
28 January 2023 Shoman University 300 Units @ $6.00
28 February 2023 Borunemel University 450 units @ $6.00
10 March 2023 Kindea University. 400 units @ $6.00
Requirements:
a. In relation to the sports watches, determine the cost of sales and ending inventory amounts for the quarter ending 30 September 20X8 on the basis that ASD adopts a FIFO cost flow assumption and employs a perpetual inventory system. Show all workings.
b. In relation to the sports watches, determine the cost of sales and ending inventory amounts for the quarter ending 30 September 20X8 on the basis that ASD adopts a LIFO cost flow assumption and employs a perpetual inventory system. Show all workings.

Perpetual: Inventory costing with FIFO

A company reports the following beginning inventory and twopurchases for the month of January. On January 26, the companysells 360 units. Ending inventory at January 31 totals 130units.

Required:
Assume the perpetual inventory system is used and then determinethe costs assigned to ending inventory when costs are assignedbased on the FIFO method.

A company reports the following beginning inventory and twopurchases for the month of January. On January 26, the companysells 320 units. Ending inventory at January 31 totals 140units.

Required:
Assume the perpetual inventory system is used. Determine the costsassigned to ending inventory when costs are assigned based onLIFO.

A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 350 units. Ending inventory at January 31 totals 150 units.

Required:
Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method.

Use the following information for the Exercisesbelow.

[The following information applies to the questionsdisplayed below.]

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

The Company uses a perpetual inventory system. For specificidentification, ending inventory consists of 200 units, where 180are from the January 30 purchase, 5 are from the January 20purchase, and 15 are from beginning inventory.

Exercise 6-3 Perpetual: Inventory costing methods LO P1

Required:
1. Complete the table to determine the costassigned to ending inventory and cost of goods sold using specificidentification.
2. Determine the cost assigned to ending inventoryand to cost of goods sold using weighted average.
3. Determine the cost assigned to ending inventoryand to cost of goods sold using FIFO.
4. Determine the cost assigned to ending inventoryand to cost of goods sold using LIFO.

Required 3

Required 4

Complete the table to determine the cost assigned to endinginventory and cost of goods sold using specific identification.

Determine the cost assigned to ending inventory and to cost ofgoods sold using weighted average. (Round cost per unit to 2decimal places.)

Determine the cost assigned to ending inventory and to cost ofgoods sold using FIFO.

Determine the cost assigned to ending inventory and to cost ofgoods sold using LIFO.