* 006.w/2.McGraw-Hill ConnectQuestion 2 - Ch 5B Assign - C XInventory Costing Under a Perj Xb Rw/ Question 2- Ch 5B Assign XInbox (331) mshimek13@gme x +A ezto.mheducation.com/ext/map/index.html?_con%3Dcon&external_browser%=0&launchUrl%3https%253A%252F%252Flms.mheducation.com%252FmgUpgrade to macOSGet new FaceTime feand Live Text.Apps M GmailYouTubeTranslateNetflix Watch TV...WebAssignQuizlet A Adobe Acrobat ex...M Question Mode: M...Ch 5B Assign 0Help(The following information applies to the questions displayed below.]Laker Company reported the following January purchases and sales data for its only product. The Company uses aperpetual inventory system. For specific identification, ending inventory consists of 250 units from the January 30purchase, 5 units from the January 20 purchase, and 20 units from beginning inventory.Part 2 of 3DateActivitiesUnits Acquired at CostUnits sold at RetailBeginning inventory$ 1,485January 1January 10January 20165 unitsOLpointsSales125 units2418.00Purchase110 units088125 unitsJanuary 25January 30SalesPurchase250 units247.50%3D1,875Totals525 units$ 4,240250 unitseBookExercise 5-4 (Algo) Perpetual: Journalizing transactions LO P1PrintRecord journal entries for Laker Company's sales and purchases transactions. Assume for this assignment that the company uses aperpetual inventory system and FIFO. All sales and purchases are made on account, and no discounts are offered.ReferencesView transaction listJournal entry worksheet4.5.2.3.<>Record the oost of sale.Note: Enter debits before credits.General JournalDebitJanuary 10 Cost of goods soldMc< Prev%242 3of 10Score answer >MacBook Air000000F4114F8F2F3F5244.#359-6.3.7.2.F.R. * 005.w/2.Sraw-Hill ConnectQuestion 2- Ch 5B Assign C XInventory Costing Under a Per xbRw/Question 2- Ch 5B Assign xInbox (331)- mshimek13@gmaA ezto.mheducation.com/ext/map/index.html?_con%3Dcon&external_browser%3D0&launchUrl=https%253A%252F%252FIlms.mheducation.com%252FmçUpgrad-M GmailYouTubeTranslateO N Netflix - Watch TV... WebAssignQuizlet Adobe Acrobat ex...M Question Mode: M...and LiveCh 5B Assign 6[The following information applies to the questions displayed below.]Laker Company reported the following January purchases and sales data for its only product. The Company uses aperpetual inventory system. For specific identification, ending inventory consists of 250 units from the January 30purchase, 5 units from the January 20 purchase, and 20 units from beginning inventory.Part 2 of 3DateActivitiesUnits Acquired at Cost165 unitsUnits sold at RetailBeginning inventoryJanuary 1January 10January 20January 25January 30$9.00 =$ 1,485Sales125 unitS$18.00pointsPurchase110 units248.00 =088125 unitS$418.00Purchase250 units247.50%3DTotals525 units$ 4,240250 unitSeBookExercise 5-4 (Algo) Perpetual: Journalizing transactions LO P1PrintRecord journal entries for Laker Company's sales and purchases transactions. Assume for this assignment that the company uses aperpetual inventory system and FIFO. All sales and purchases are made on account, and no discounts are offered.View transaction listJournal entry worksheet2.3.Record the sale of goods.Note: Enter debits before credits.DateGeneral JournalDebitJanuary 10 Accounts receivableMc< Prev2 3of 10Score answerIIHMacBook Air114F8F5F664F2F3888&244.238.69-7.2.5.

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Journal entry is a process of recording and classifying business transactions into books of…

Business

Accounting

[The following information applies to the questions displayed below.] Laker Company reported the following January purchases and sales data for its only product. The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 250 units from the January 30 purchase, 5 units from the January 20o purchase, and 20 units from beginning inventory. Date Activities Units Acquired at Cost 165 units @ $ 9.00 = Units sold at Retail $ 1,485 January 1 January 10 January 20 January 25 January 30 Beginning inventory Sales 125 units $ 18.00 Purchase 110 units e $ 8.00 = 880 Sales 125 units $ 18.00 Purchase 250 units $ 7.50 = 1,875 Totals 525 units $ 4,240 250 units Exercise 5-4 (Algo) Perpetual: Journalizing transactions LO P1 Record journal entries for Laker Company's sales and purchases transactions. Assume for this assignment that the company uses a perpetual inventory system and FIFO. All sales and purchases are made on account, and no discounts are offered.

[The following information applies to the questions displayed below.] Laker Company reported the following January purchases and sales data for its only product. The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 250 units from the January 30 purchase, 5 units from the January 20o purchase, and 20 units from beginning inventory. Date Activities Units Acquired at Cost 165 units @ $ 9.00 = Units sold at Retail $ 1,485 January 1 January 10 January 20 January 25 January 30 Beginning inventory Sales 125 units $ 18.00 Purchase 110 units e $ 8.00 = 880 Sales 125 units $ 18.00 Purchase 250 units $ 7.50 = 1,875 Totals 525 units $ 4,240 250 units Exercise 5-4 (Algo) Perpetual: Journalizing transactions LO P1 Record journal entries for Laker Company's sales and purchases transactions. Assume for this assignment that the company uses a perpetual inventory system and FIFO. All sales and purchases are made on account, and no discounts are offered.

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter3: Setting Up A New Company

Section: Chapter Questions

Problem 3.4C

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