Laker Company reported the following January purchases and sales data for its only product.

Date			Activities	Units Acquired at Cost								Units sold at Retail
Jan.	1		Beginning inventory	210	units	@	$	13.50	=	$	2,835
Jan.	10		Sales										160	units	@	$	22.50
Jan.	20		Purchase	150	units	@	$	12.50	=		1,875
Jan.	25		Sales										180	units	@	$	22.50
Jan.	30		Purchase	320	units	@	$	12.00	=		3,840
			Totals	680	units					$	8,550		340	units

The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 340 units, where 320 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory.

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.

Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. (Round cost per unit to 2 decimal places.)

Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal places.)

Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. (Round cost per unit to 2 decimal places.)

Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. (Round cost per unit to 2 decimal places.)

Specific Identification Available for Sale Cost of Goods Sold Purchase Date Ending Inventory Ending Ending Cost Per Inventory- Inventory- Unit Units Cost Activity Unit Cost Units Units Sold Unit Cost COGS Jan. 1 210 Beginning inventory Purchase 150 Jan. 20 Jan. 30 Purchase 320 680 Weighted Average - Perpetual: Goods Purchased Cost of Goods Sold Inventory Balance Cost per Date # of units Cost per unit # of units sold Cost per unit Cost of Goods Sold # of units Inventory Balance unit January 1 210 @ $ 13.50 = $ 2,835.00 January 10 January 20 Average cost January 25 January 30 Totals Goods Purchased Cost of Goods Sold Inventory Balance Cost per Cost per Cost per Date # of units # of units sold Cost of Goods Sold # of units Inventory Balance unit unit unit January 1 210 @ $ 13.50 = $ 2,835.00 January 10 January 20 January 25 January 30 Totals Goods Purchased # of units unit Cost per Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Inventory Balance # of units Inventory unit Balance Cost per Date January 1 210 @ $ 13.50 = $ 2.835.00 January 10 January 20 January 25 January 30 Totals