from the estate. Laker Company reported the following January purchases and sales data for its...
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from the estate. Laker Company reported the following January purchases and sales data for its only product. Activities Units Acquired at Cost Units Sold at Retail Date Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase . . 140 units $6.00 840 60 units@ $5.00300 180 units $4.50 810 100 units @$15 80 units@$15 Totals 380 units $1950180 units . . Required The company uses a perpetual inventory system. Determine the cost assigned to ending inventory ands cost of goods sold using (a) specific identification, (b) weighted average, (c) FIFO, and (d) LIFO. (Rod per unit costs and inventory amounts to cents.) For specific identification, ending inventory consist 200 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 1a from beginning inventory y
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