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Required information The following information applies to the questions displayed below Laker Company reported the following January purchases and sales data for its only product

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Required information The following information applies to the questions displayed below Laker Company reported the following January purchases and sales data for its only product Date Activitiesits Acquired at Cost Units sold at Retail Beginning Jan. inventory 240 units$16.50 $3,960 90 units $25.50 Jan. 10 Sales Jan. 20 Purchase Jan. 25 sales 170itse $15.50= 2,635 190 units$25.50 Jan 30 Purchase 38o unite$15.005,700 790 units 12,295 380 unts Totaln Required The Company uses a periodic inventory system. For specific identification, ending inventory consists of 410 units, where 380 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory. Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, () FIFO, and (a) LIFO Answer is not complete. 1 LIFO FIFO Specific IdWeighted unit to 2 decimal places.) ound cost per Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (R Ending Inventory Cost of Goods Sold Cost of Goods Available for Sale ) Average Cost Cost of 1#of units Average Cost Cost of Average Cost Ending #of units Average Cost Goods Available for Sale Goods in ending Sold #of units nventoryper unit Inventory sold per U per unit 3,960 240 Beginning inventory Purchases: 2,635 170 Jan. 20 5,700 380 Jan. 30 410 $ 16.50$ 3,135 790 5 15.56 Os 12.26 190 Specific Id FIFO > Required information Specific Id Weighted Average LIFO Determine the cost assigned to ending inventory and to cost of goods sold using FIFO c) FIFO Cost of Goods Soled Ending Inventory Cost of Goods Cost of |#Of units Cost Goods in ending per Sold Cost per for Sale sold unit 3,960 190 16.5 #of #of |Cost aing nventory per unit Avallable units inventory unit 50 16.50 Beginning inventory s 3,135 240 16.50 825 Purchases 263 50 15.50 Jan. 20 170 15.50 120 15.50 775 1,860 240 15.00 5,700 140 $ 15.00 Jan. 30 380 15.00 3,600 2,100 010 0 3 0.285 Total 790 12,295 $ 6,28 380 Weighted Average LIFO > LIFO FIFO Specific Id Weighted ts Determine the cost assigned to ending inventory and to cost of goods sold using LIFO Ending Inventory Cost of Goods Sold d) LIFO Sale Cost of Goods Available units Cost of |#Of units Cost Goods in ending p Sold Cost #of Ending per Inventory #of |Cost per unit units per unit nventory unit sold for Sale 2516.50 413 3,960 215 16.50 3,548 240 16.50 Beginning inventory Purchases: 78 2,635 165$ 15.50 2,558 170 15.50 Jan. 20 15.50 380 15.00 5,700 5,700 380 15.00 Jan. 30 6,191 410 12,295 6,106 380 790 Total FIFO

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