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Laker Company reported the following January purchases and sales data for its only product. Date Activities Beginning Jan. 1 inventory Jan. 10 Sales Jan. 20

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Laker Company reported the following January purchases and sales data for its only product. Date Activities Beginning Jan. 1 inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units sold at Units Acquired at Cost Retail 175 units@ $10.80 - $1,750 135 units@ $19.00 130 units@ $ 9.09 1,170 115 units@ $19.00 250 units@ $ 8.50 2,125 555 units $5,045 250 units Required: The Company uses a periodic inventory system. For specific identification, ending inventory consists of 305 units, where 250 are from the January 30 purchase, 5 are from the January 20 purchase, and 50 are from beginning inventory. Determine the cost assigned to ending inventory and to cost of goods sold using a specific identification () weighted average, (FIFO, and (LIFO. Complete this question by entering your answers in the tabs below. Specific id Weighted Average FIFO UFO Determine the cost assigned to ending inventory and to cost of goods sold using specific identification. For specific identification, ending inventory consists of 305 units, where 250 are from the Lanuary 30 purchase, 5 are from the Lanuary 20 purchase, and 50 are from beginning inventory. a) Specific Identification Cost of Goods Sold Endling Inventory Cost of Goods Available for Sale Cost of Goods of units Cost per Avatar 1 unit Sale of units Cost per sold unit Cost of Goods Sold in ending Inventory Cost per unit Ending Inventory Beginning vendory Purchases Jan 20 Jan 30 Weighted Average >

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