Laker Company reported the following January purchases and sales data for it's only product.

The company uses a perpetual inventory system. For specific identification, ending inventory consists of 300 units, where 280 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory.

Required: 1. Complete the table to determine the cost assigned to ending 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.

Date Activities Units Acquired at Cost 190 units@ $7.00 = $1,330 Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase 110 units @ $6.00 = 660 Jan. 25 Sales Jan. 30 Purchase 1,540 280 units @ $5.50 = 580 units Totals $3,530 The Company uses a perpetual inventoncustom Co Units sold at Retail 150 units @ $16.00 130 units @ $16.00 280 units