inventory and cost of goods sold

[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 420 units, where 400 are from the Janfary 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory Date activities Units Acquired at Cost units sold at Retail Jan. 1 Beginning inventory 230 units $15.50 - $ 3,565 180 units $24.50 Jan. 20 Purchase 190 units $14.50 2.755 Jan. 25 Sales 220 units $24.50 Jan. 30 Purchase 400 units $14.ee 5,600 Totals $11.920 400 units Jan. 10 Sales 320 units Required: Determine the cost assigned to ending inventory and to cost of goods sold using a specific identification, (b) weighted average (9 FIFO, and (d) LIFO Required information Specific la Weighted FIFO LIFO Average Determine the cost assigned to ending inventory and to cost of goods sold using specific identification. For specific identification, ending inventi 420 units, where 400 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 Sold Ending Inventory Cost of Goods Cost per of units of units Cost per W of units Cost of Available for unit Cost sold Ending in ending unit Sale Goods Sold inventory per unit Inventory Beginning inventory Purchases Jan 20 Jan. 30 Total $ 0 0 $ 0 $ 0 Required information Specific Id Weighted FIFO LIFO Average 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 Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Average Cost of Goods # of units Average # of units Average Cost of #of units Cost per Available for Cost per sold Ending Goods Sold Cost per in ending unit Sale Unit inventory unit Inventory Beginning inventory Purchases: Jan 20 Jan 30 Total $ 0 $ $ 0 Specific ld FIFO > Specific Id Weighted Average FIFO LIFO Cost per 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 # of units of units Cost per Available for Cost of unit Sale sold unit Goods Sold Beginning inventory Purchases Jan 20 Jan 30 Total 0 $ 0 0 $ 0 Ending Inventory of units Cost in ending Ending inventory per unit Inventory 0 $ 0 Required information Specific Id Weighted FIFO LIFO Average 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 # of units #of units Cost per Available for Cost of unit sold Sale unit Goods Sold Beginning inventory Purchases: Cost per Ending Inventory # of units Cost in ending Ending inventory per unit Inventory Jan. 20 Jan. 30 $ Total 0 $ 0 0 $ 0 0 $ 0