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Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of 380 units from the

Laker Company reported the following January purchases and sales data for its only product. 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.

  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.

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