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[The following information applies to the questions displayed below.] 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	185	units	@	$	11.00	=	$	2,035
Jan.	10		Sales										145	units	@	$	20.00
Jan.	20		Purchase	100	units	@	$	10.00	=		1,000
Jan.	25		Sales										125	units	@	$	20.00
Jan.	30		Purchase	270	units	@	$	9.50	=		2,565
			Totals	555	units					$	5,600		270	units

The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 285 units, where 270 are from the January 30 purchase, 5 are from the January 20 purchase, and 10 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.

Required 1 Required 2 Required 3 Required 4 Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. (Round places.) Specific Identification Available for Sale Cost of Goods Sold Purchase Date Ending Inventory Ending Ending Inventory- Cost Per Unit Inventory- Units Cost Activity Unit Cost Units Units Sold Unit Cost COGS Jan. 1 185 Jan. 20 Beginning inventory Purchase Purchase 100 Jan. 30 270 555 Required 1 Required 2 > Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decir Weighted Average - Perpetual: Goods Purchased Date # of units unit Cost per # of units sold Cost of Goods Sold Cost per Cost of Goods unit Sold Inventory Balance # of units Cost per Inventory unit Balance 185 @ $ 11.00 = $ 2,035.00 January 1 January 10 January 20 Average cost January 25 January 30 Totals