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ring Enabled: Chapter 5 014 Laker Company reported the following January purchases and sales data for its only product. The Company uses a periodic
ring Enabled: Chapter 5 014 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 228 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 43 are from beginning inventory. Dete Activitios Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totale Units Acquired at Cost Units sold at Retail 154 units $6.00- 924 86 unite $15.00 74 units $5.00- 100 units $4.50- 408 units 370 94 unite $15.00 810 $2,104 180 units 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. Complete this question by entering your answers in the tabs below. Specific Id Weighted Average FIFO LIFO etermine the cost assigned to ending inventory and to cost of goods sold using FIFO. Periodic FIFO Cost of Goods Available for Sale # of units Cost per unit Cost of Goods Available for Sale # of units sold Cost of Goods Sold Cost per unit Cost of Goo Sold ginning inventory 154 6.00 $ 924 rchases: Jan. 20 74 5.00 Jan. 30 180 4.50 al 408 $ Weighted Average 370 + 810 2,104 0 LIFO $
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