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Date Jan. 1 inventory Laker Company reported the following January purchases and sales data for its only product Activities Units Acquired at Cost Units sold

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Date Jan. 1 inventory Laker Company reported the following January purchases and sales data for its only product Activities Units Acquired at Cost Units sold at Retail Beginning 145 units@ $7.00 - $1,015 Jan. 10 Sales 105 units @ $16.00 Jan. 20 Purchase 70 units@ $6.00 - 420 Jan. 25 Sales 85 units @ $16.00 Jan. 30 Purchase 190 units@ $5.50 1,045 Totals 405 units $2,480 190 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 215 units, where 190 are from the January 30 purchase, 5 are from the January 20 purchase, and 20 are from beginning inventory. Required: 1. Complete the table to determine the costs assigned to ending inventory and to cost of goods sold using specific identification 2. Determine the costs assigned to ending inventory and to cost of goods sold using weighted average 3. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. 4. Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Complete the table to determine the costs assigned to ending inventory and to cost of goods sold using specific identification Specific Identification Cost of Goods Sold Available for Sale Ending Inventory Ending nventory Unit Cost Units Ending Cost Per Inventory Units Sold Unit Cost Unit Cost COGS Activity Unns Purchase Date 145 Jan. 1 Jan. 20 Jan. 30 Beginning inventory Purchase Purchase Required 2 > Required 1

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