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2 Check my wo Required information The following information applies to the questions displayed below] Laker Company reported the following January purchases and sales data
2 Check my wo Required information The following information applies to the questions displayed below] Laker Company reported the following January purchases and sales data for its only product ats Units Acquired at Cost 240 units@ $16.50 - $ 3,960 Units sold at Retail eBook Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 190 units @ $25.5e 17e units @ $15.50 - 2,635 Hint 190 units @ $25.50 Print 380 units $15.00 - 790 units 5,700 $12,295 380 units eferences The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 410 units, where 380 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory 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 ending inventory and to cost of goods sold using weighted average. 3. Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. 4. Determine the cost assigned to ending inventory and to cost of goods sold using LIFO.
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