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Required information [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 216 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 31 are from beginning inventory. Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 148 units @ $6.00 = $ 888 Jan. 10 Sales 92 units @ $15.00 Jan. 20 Purchase 68 units @ $5.00 = 340 Jan. 25 Sales 88 units @ $15.00 Jan. 30 Purchase 180 units @ $4.50 = 810 Totals 396 units $2,038 180 units View previous attempt 1. Complete the table to determine the costassigned 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. Complete this question by entering your answers in the tabs below. Specific Id Weighted Average FIFO LIFO 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 Specific id Weighted Average FIFO LIFO 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 Purchase Date Activity # of units # of units Cost Per Unit Cost Per Unit Ending Inventory Ending Cost Per Unit Inventory COGS Ending Inventory- Units sold 148 $ 6.00 92 $ Jan. 1 Jan. 20 Jan. 30 Beginning inventory Purchase Purchase 6.00 $ 5.00 552 440 687 $ 5.00 88 S 4.50 180 $ 396 180 S 992 Prev 1 of 11 Next > Goods Purchased Cost of Goods Sold Inventory Balance Date # of units Cost per # of units sold Cost per unit Cost of Goods Sold # of units unit Cost per unit Inventory Balance January 1 148 @ $ 6.00 = $ 888.00 January 10 92 @ January 20 Average cost January 25 January 30 Prev 1 of 11 !!! Next >

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