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Laker Company reported the following January purchases and sales data for its only product vities Units Acquired at Cost Units sold at Retail Jan. 1

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Laker Company reported the following January purchases and sales data for its only product vities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory190 unitse Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase $7.00-$1,330 110 unitse $6.00660 280 unitse $5.50 1,540 150 units $16.00 130 units $16.00 Totals 580 units $3,530 280 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 300 units, where 280 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory Required: . Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. rmine the cost assigned to ending inventory and to cost of goods sold using FIFO 4. Determine the cost assigned to ending inventory and to cost of goods sold using LIFO Complete this questions by entering your answers in the below tabs Required 1 Required 2 Required 3 Required 4 Complete the table to determine the cost assigned to ending inventory and cost Specific Identification of goods sold using specific identification. Ending Inventory Ending Cost Per Inventory Available for Sale Cost of Goods Sold Ending Unit Units Unit Cost Units Cost Sold COGS Inventory- urchase Date Activity Unit Units 175 7.00 1,225 15$ 7.00 Jan. 1 Beginning inventory 190 7.00 105 Prev 1 2 of 4 EEI Next >

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