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Laker Company reported the following January purchases and sales data for its only product. The Company uses a periodic 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.

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

rev: 10_06_2020_QC_CS-232448

Required:

Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c) FIFO, and (d) LIFO.