Use the following information for the Exercises 3-7 below. (Algo) Skip to question [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 periodic inventory system. For specific identification, ending inventory consists of 204 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 19 are from beginning inventory. Date Activities Units Acquired at Cost Units sold at Retail January 1 Beginning inventory 142 units @ $ 6.00 = $ 852 January 10 Sales 98 units @ $ 15.00 January 20 Purchase 62 units @ $ 5.00 = 310 January 25 Sales 82 units @ $ 15.00 January 30 Purchase 180 units @ $ 4.50 = 810 Totals 384 units $ 1,972 180 units

Exercise 5-5A (Algo) Perpetual: Inventory costing LO P3

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

2) Determine the cost assigned to ending inventory and to cost of goods sold using weighted average.

3) Determine the cost assigned to ending inventory and to cost of goods sold using FIFO.

4) Determine the cost assigned to ending inventory and to cost of goods sold using LIFO.