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

Laker Company reported the following January purchases and sales data for its only product.

Date		Activities	Units Acquired at Cost								Units sold at Retail
Jan.	1	Beginning inventory	260	units	@	$	9.20	=	$	2,392
Jan.	10	Sales										145	units	@	$	17.20
Jan.	20	Purchase	330	units	@	$	8.20	=		2,706
Jan.	25	Sales										255	units	@	$	17.20
Jan.	30	Purchase	200	units	@	$	7.20	=		1,440
		Totals	790	units					$	6,538		400	units

Required:

The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 390 units, where 200 are from the January 30 purchase, 80 are from the January 20 purchase, and 110 are from beginning inventory.

1.

Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification.

Specific Identification
	Available for Sale			Cost of Goods Sold			Ending Inventory
Purchase Date	Activity	Units	Unit Cost	Units Sold	Unit Cost	COGS	Ending Inventory- Units	Cost Per Unit	Ending Inventory- Cost
Jan. 1	Beginning inventory	260
Jan. 20	Purchase	330
Jan. 30	Purchase	200
		790		0		$0	0		$0