determine the cost assigned to ending inventory and to cost of goods sold using 1. specific identification 2. weighted average 3.FIFO 4. LIFO

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. The Company uses a periodic inventory system. For specific identification, ending Inventory consists of 375 units, where 355 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. Activities Date Units Acquired at Cost Jan. 1 Beginning inventory 215 units@ $14.00 = $3,010 Jan. 10 Sales Jan. 20 Purchase 160 units@ $13.00 2,080 Jan. 25 Sales Jan. 30 Purchase. Totals 355 units@ $12.00=4,260 730 units You received partial credit in the previous attempt. Weighted Average Units sold at Retail 165 units@ $23.00 190 units@ $23.00 Required: 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. Complete this questions by entering your answers in the below tabs. FIFO $9,350 355 units LIFO Help Specific Id Determine the cost assigned to ending inventory and to cost of goods sold using specific identification. For specific identification, ending inventory ok Required: Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average FIFO, and (d) LIFO. Complete this questions by entering your answers in the below tabs. Specific Id Weighted Average Beginning inventory Purchases: Jan. 20 Jan. 30 Total FIFO Determine the cost assigned to ending inventory and to cost of goods sold using specific identification. For specific identification, ending 375 units, where 355 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. a) Specific Identification Cost of Goods Available for Sale Cost of Goods Available for Sale # of units LIFO Cost per unit $ C 0 Cost of Goods Sold Cost per unit # of units sold Specificid Ending Inventory Next > 0 Cost Ending per unit Inventory $ Required: 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. Complete this questions by entering your answers in the below tabs. Specific Id Weighted Average Beginning inventory Purchases: Jan. 20 Jan. 30 Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal places b) Average Cost Ending Inventory Cost of Goods Sold Average Cost of Cost per Goods Sold Unit Average Cost per unit Total FIFO LIFO Cost of Goods Available for Sale Average # of units Cost per unit 0 Cost of Goods # of units Available for Sale sold $ 0 Next > Ending Inventory $ 0 Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted averag FIFO, and (d) LIFO. Complete this questions by entering your answers in the below tabs. Specific Id Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. c) FIFO Cost of Goods Available for Sale Cost of Goods Sold Cost of Goods Available for Sale Cost per unit Begi Purchases: Jan. 20 Jan. 30 Weighted Average Total inventory FIFO # of units 0 LIFO Cost per unit $ 0 # of units sold 0 Ending Inventory Next > 0 Cost Ending per unit Inventory $ 0 Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average FIFO, and (d) LIFO. Complete this questions by entering your answers in the below tabs. Specific Id Weighted Average Beginning inventory Purchases: Jan. 20 Jan. 30 Total FIFO Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. d) LIFO Cost of Goods Available for Sale Cost of Goods Sold Cost of Goods Available for Sale Cost per unit # of units 0 LIFO Cost per unit $ 0 # of units sold Ending Inventory Next > 0 Cost per unit Ending Inventory $ 0