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Laker Company reported the following January purchases and sales data for its only product. Date Activities Units Acquired at Cost Exercise 6-3 Perpetual: Inventory costing

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Laker Company reported the following January purchases and sales data for its only product. Date Activities Units Acquired at Cost Exercise 6-3 Perpetual: Inventory costing methods P1 Units Sold at Retail 140 units @ $6.00 = $ 840 100 units @ $15 Jan. 1 Jan. 10 Jan. 20 Jan. 25 Jan. 30 Beginning inventory ... Sales... Purchase .. Sales..... Purchase .. Totals 60 units @ $5.00 = 300 80 units @ $15 180 units @ $4.50 = 810 380 units $1,950 180 units Required The company uses a perpetual inventory system. 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. (Round per unit costs and inventory amounts to cents.) For specific identification, ending inventory consists of 200 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory Check Ending invento LIFO, $930: WA,$918

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