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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. The Company
[The following information applies to the questions displayed below.] Laker Company reported the following January purchases and sales data for its only product. The Company uses a perpetual 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. Company uses a periodic inventory system. For specific identification, ending inventory consists of 270 units from the January 30 urchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Determine the cost assigned to ending iventory 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. Julilld ellly vul ksIleet 234 Note: Enter debits before credits. Journal entry worksheet 34 Note: Enter debits before credits. Record the purchase of inventory. Note: Enter debits before credits. Journal entry worksheet 1 2 3 Note: Enter debits before credits. Journal entry worksheet Journal entry worksheet 1234 Record the purchase of inventory. Note: Enter debits before credits
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