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Laker Company reported the following January purchases and sales data for its only product. The Company uses a perpetual inventory system. For specific identification, ending

Laker Company reported the following January purchases and sales data for its only product. The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 270 units from the January 30 purchase, 5 units from the January 20 purchase, and 10 units from beginning inventory.

DateActivitiesUnits Acquired at CostUnits sold at Retail
January 1Beginning inventory185units@$ 11.00=$ 2,035
January 10Sales145units@$ 20.00
January 20Purchase100units@$ 10.00=1,000
January 25Sales125units@$ 20.00
January 30Purchase270units@$ 9.50=2,565
Totals555units$ 5,600270units

Required:

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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