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 305 units, where 275 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory. Activities Date Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 175 units@ $10.00 $1,750 Jan. 10 Sales 135 units @ $19.00 Jan. 20 130 units@ $9.00 = 1,170 Jan. 25 140 units@ $19.00 Jan. 30 275 units Purchase Sales. Purchase Totals 275 units@ $ 8.00= 580 units 2, 200 $5,120 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. Determine the cost assigned to ending inventory and to cost of goods sold using specific identification. For specific identification, ending 305 units, where 275 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory. a) Specific Identification Ending Inventory Beginning inventory Purchases: Jan. 20 Jan. 30 Total Cost of Goods Available for Sale Cost of Goods Available for Sale # of units 0 Cost per unit $ 0 Cost of Goods Sold Cost per unit # of units sold 0 Cost of Goods Sold 0 # of units in ending inventory 0 Cost Ending per unit Inventory $