Homework Help

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 204 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 19 are from beginning inventory. equired: etermine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (C) TFO, and (d) UFO