Exercise 5-3 Periodic: Inventory costing methods LO P1 Required: The Company uses a periodic inventory system. For specific identification, ending inventory consists of 230 units, where 200 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory. Determine the cost assigned to ending Inventory and to cost of goods sold using a specific identification, (6) weighted average. (FIFO, and () LIFO Complete this question by entering your answers in the tabs below. Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending Inventory and to cost of goods sold using specific identification. For specific identification, ending inventory cons 230 units, where 200 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory. a) Specific identification Cost of Goods Sold Cost of Goods Available for Sale Cost of Goods of units cost per Available for of units Cost per sold unit Cost of Goods Sold Ending Inventory of units Cost In ending Ending Inventory per unit Inventory 2 5 $ 7.50 $ Beginning inventory 150 $ 7.50 $ 1,125 125 $ 7.50 $ 9381 Purchases Jan 20 75 $ 6.50 488 80 200 $ 6.50 $ 6.00 5201 1.200 $ 6.50 $ 6.00 200 Jan 30 Total $ 1,426 Weighted Average > Type your answer in the box. The expanded accounting equation is defined as: = Liabilities + Common Stock + - Dividends. Do not include "account" or "accounts" in your answer. Read about this Do you know the answer? Exercise 5-3 Periodic: Inventory costing methods LO P1 Required: The Company uses a periodic inventory system. For specific identification, ending inventory consists of 230 units, where 200 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory. Determine the cost assigned to ending Inventory and to cost of goods sold using a specific identification, (6) weighted average. (FIFO, and () LIFO Complete this question by entering your answers in the tabs below. Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending Inventory and to cost of goods sold using specific identification. For specific identification, ending inventory cons 230 units, where 200 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory. a) Specific identification Cost of Goods Sold Cost of Goods Available for Sale Cost of Goods of units cost per Available for of units Cost per sold unit Cost of Goods Sold Ending Inventory of units Cost In ending Ending Inventory per unit Inventory 2 5 $ 7.50 $ Beginning inventory 150 $ 7.50 $ 1,125 125 $ 7.50 $ 9381 Purchases Jan 20 75 $ 6.50 488 80 200 $ 6.50 $ 6.00 5201 1.200 $ 6.50 $ 6.00 200 Jan 30 Total $ 1,426 Weighted Average > Type your answer in the box. The expanded accounting equation is defined as: = Liabilities + Common Stock + - Dividends. Do not include "account" or "accounts" in your answer. Read about this Do you know the