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

Required The Company uses a perpetual inventory system. 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 per unit costs and inventory amounts to dollars and cents.) 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 Check Ending inventory: LIFO, beginning inventory.

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Date Activities Units Acquired at Cost Units Sold at Retail Jan. 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. Totals 180 units @$4.50 = 380 units 810 $1,950 180 units