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

Date		Activities	Units Acquired at Cost								Units sold at Retail
Jan.	1	Beginning inventory	165	units	@	$	9.00	=	$	1,485
Jan.	10	Sales										125	units	@	$	18.00
Jan.	20	Purchase	110	units	@	$	8.00	=		880
Jan.	25	Sales										125	units	@	$	18.00
Jan.	30	Purchase	250	units	@	$	7.50	=		1,875
		Totals	525	units					$	4,240		250	units

rev: 09_15_2017_QC_CS-99723

Required:

The Company uses a periodic inventory system. For specificidentification, ending inventory consists of 275 units, where 250are from the January 30 purchase, 5 are from the January 20purchase, and 20 are from beginning inventory. Determine the costassigned to ending inventory and to cost of goods sold using(a) specific identification, (b) weightedaverage, (c) FIFO, and (d) LIFO

Complete this questions by entering your answers in thebelow tabs.

• Specific Id

• Weighted Average
• FIFO
• LIFO

Determine the cost assigned to ending inventory and to cost ofgoods sold using specific identification. For specificidentification, ending inventory consists of 275 units, where 250are from the January 30 purchase, 5 are from the January 20purchase, and 20 are from beginning inventory.

Determine the cost assigned to ending inventory and to cost ofgoods sold using weighted average.

b) Average Cost	Cost of Goods Available for Sale			Cost of Goods Sold			Ending Inventory
	# of units	Average Cost per unit	Cost of Goods Available for Sale	# of units sold	Average Cost per Unit	Cost of Goods Sold	# of units in ending inventory	Average Cost per unit	Ending Inventory
Beginning inventory
Purchases:
Jan. 20
Jan. 30
Total	0		$0			$0			$0