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Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of 3 7 0 units


Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of 370 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory.DateJanuary 1January 10January 20January 25January 30Activities Beginning inventory Sales Purchase Totals Units Acquired at Cost220 units$ 14.50=Units sold at Retail$ 3,190170 units$ 23.50170 units$ 13.50=2,295200 units$ 23.50370 unitsi760 units$ 13.00=4,810$ 10,295370 units Exercise 5-3(Algo) Perpetual: Inventory costing methods LO P1Assume the perpetual inventory system is used.

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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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