IE Exercise 6-3 (Algo): Perpetual: Inventory costing methods LO P1 Laker Company reported the following January purchases and sales data for its only product. The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 380 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory. Date January 1 January 10 January 20 January 25 January 30 Activities Beginning inventory Sales Purchase Sales Purchase Totals. Units Acquired at Cost 240 units @ $16.50 = 170 units @ $ 15.50 = 380 units e $ 15.00 = 790 units $ 3,960 2,635 5,700 $ 12,295 Units sold at Retail 190 units 190 units 380 units @ @ $ 25.50 $25.50 Required: 1. Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. 2. Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. 3. Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. 4. Determine the cost assigned to ending inventory and to cost of goods sold using LIFO.

IE Exercise 6-3 (Algo): Perpetual: Inventory costing methods LO P1 Laker Company reported the following January purchases and sales data for its only product. The Company uses a perpetual Inventory system. For specific identification, ending inventory consists of 380 units from the Januory 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory. 1. Complete the table to determine the cost assigned to ending inventory and cast of goods sold using specific identification. 2. Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. 3. Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. 4. Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. Laker Company reported the following January purchases and sales data for its only product. The Company uses a perpetual inventory system. Required: 1) Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. aker Company reported the foliowing lanuary purchases and sales data for its only product. The Company uses a perpetual inventory system. tequired: 2. Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. aker Company reported the following January purchases and sales data for its only product. The Company uses a perpetual inventory system. Determine the cost assigned to ending irventory and to cost of goods sold using fiFO. aker Company reported the following January purchases and sales data for its only product. The Company uses a perpetual inventory system. Determine the cost assigned to ending inventory and to cost of goods sold using LFO