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Required information

Use the following information for the Exercises $3-7$ below. $($Algo$)$

$[$The following information applies to the questions displayed below.$]$

Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of $270$ units from the January $30$ purchase, $5$ units from the January $20$ purchase, and $15$ units from beginning inventory.

Exercise $5-6$A $($Algo$)$ Periodic: Inventory costing LO P$3$

The Company uses a periodic inventory system. For specific identification, ending inventory consists of $270$ units from the January $30$ purchase, $5$ units from the January $20$ purchase, and $15$ units from beginning inventory. 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.

Complete this question by entering your answers in the tabs below.

Specific Id

Weigh

FIFO

LIFO

Weighted Average

January $30$ purchase, $5$ units from the January $20$ purchase, and $15$ units from beginning inventory.

$\backslash$table$[[$a$)$ Specific Identification$],[,$Cost of Goods Avaliable for Sale,Cost of Goods Sold,Ending Inventory$],[,$# of units,$\backslash$table$[[$Cost per$],[$unit$]],\backslash$table$[[$Cost of Goods$],[$Avaliable for$],[$Sale$]],\backslash$table$[[$# of units$],[$sold$]],\backslash$table$[[$Cost por$],[$unit$]],\backslash$table$[[$Cost of Goods$],[$Sold$]],\backslash$table$[[$# of units in$],[$onding$],[$inventory$]],\backslash$table$[[$Cost per$],[$unit$]],\backslash$table$[[$Ending$],[$Inventory$]]],[\backslash$table$[[$Beginning inventory$],[$Purchases:$]]],[\backslash$table$[[$Purchases:$],[$January $20]]],[$January $20,,,=,,,,,,],[$January $30,,-,2,,,,,,],[$Total$,0,,$$$,0,,0,0,,$$