Laker Company reported the following January purchases and sales data for its only product. (3&4)

Date		Activities	Units Acquired at Cost								Units sold at Retail
Jan.	1	Beginning inventory	140	units	@	$	6.00	=	$	840
Jan.	10	Sales										100	units	@	$	15
Jan.	20	Purchase	60	units	@	$	5.00	=		300
Jan.	25	Sales										80	units	@	$	15
Jan.	30	Purchase	180	units	@	$	4.50	=		810
		Totals	380	units					$	1,950		180	units

Required:

The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 200 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory.

3. Determine the cost assigned to ending inventory and to cost of goods sold using FIFO Perpetual FIFO: ds Purcha ost of nvento alan Cost per unit Cost per unit Cost of Goods Sold | # of units counter Cost per Inventory Balance # of units Date units SO January 1 January 10 January 20 140 @ $ 6.00 $840.00 January 25 January 30 Totals