s $4-5$ Homework Assignment $($i$)$

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Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of $290$ units from the January $30$ purchase, $5$ units from the January $20$ purchase, and $20$ units from beginning inventory.

The Company uses a periodic inventory system. For specific identification, ending inventory consists of $290$ units from the January $30$ purchase, $5$ units from the January $20$ purchase, and $20$ 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

Weighted

Average

Determine the cost assigned to ending inventory and to cost of goods sold using specific identification. For specific identification, ending inven January $30$ purchase, $5$ units from the January $20$ purchase, and $20$ units from beginning inventory.

a$)$ Specific Identification

Cost of Goods Available for Sale

Cost of Goods Sold

Ending Inventory

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