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

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Laker Company reported the following January purchases and sales data for its only product. Exer Perf Date Activities Units Acquired at Cost Units Sold at Retail costi P1 140 units @ $6.00 = $ 840 100 units @ $15 Jan. 1 Jan. 10 Jan. 20 Jan. 25 Jan. 30 Beginning inventory ............ Sales Purchase ............ Sales............. Purchase ....... 60 units @ $5.00 = 300 80 units @ $15 180 units @ $4.50 = 380 units 810 $1,950 Totals .... 180 units Required The company uses a perpetual inventory system. Determine the cost assigned to ending inventory and to cost of soods sold using (a) specific identification, (b) weighted average, (C) FIFO, and (d) LIFO. (Round per unit and inventory amounts to cents.) For specific identification, ending inventory consists of 200 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. CM

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