identification, ending inventory consists of 214 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 29 are from beginning inventory. Date Activities January 1 Beginning inventory January 10 Sales January 20 Purchase January 25 Sales January 30 Purchase Totals Units Acquired at Cost 147 units @ $6.00 = 67 units @ $5.00 = 180 units @ $ 4.50 394 units Exercise 5-3 (Algo) Periodic: Inventory costing methods LO P1 $882 335 810 $ 2,027 Units sold at Retail 93 units @ 87 units @ 180 units $ 15.00 $15.00 Required: Assume the periodic inventory system is used. 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.

Identification, ending inventory consists of 214 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 29 are from beginning inventory. Exercise 5-3 (Algo) Periodic: Inventory costing methods LO P1 Required: Assume the periodic inventory system is used. Determine the cost assigned to ending inventory and to cost of goods sold using (d) specific identification, (b) weighted average, (c) FIFO, and (d) LIFO