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Laker Company reported the following January purchases and sales data for its only product. The Company uses a periodic inventory system. For specific identification,
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 228 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 43 are from beginning Inventory Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totale Units Acquired at Cost Units sold at ALL 154 units 56.00-5924 86 units $15.00 180 unite $4.50- 408 unite 74 units $5.00- 370 94 unite $15.00 810 $2,104 180 units uired: ermine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average. (c) , and (d) LIFO mplete this question by entering your answers in the tabs below. cific Id Weighted Average FIFO LIFO mine the cost assigned to ending inventory and to cost of goods sold using LIFO. odic LIFO Cost of Goods Available for Sale Cost per # of units unit Cost of Goods Available for Sale # of units sold Cost of Goods Sold Cost per unit Cost of Goods Sold 154 6.00 $ 924 # of units in ending inventory En ng inventory ses: 20 74 5.00 370 30 180 4.50 810 408 $ 2,104 0 $ 0 0 FIFO
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