please help Laker Company reported the following January purchases and sales...
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Laker Company reported the following January purchases and sales data for its only product. The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 385 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory Units Acquired at cost 225 units @ $ 15.00 $ 3,375 Units sold at Retail Date January 1 January 10 January 20 January 25 January 30 175 units $ 24.00 Activities Beginning inventory Sales Purchase Sales Purchase Totals 180 units @ $ 14.00 2,520 210 units $ 24.00 385 units $12.00 = 790 units 4,620 $ 10,515 385 units Required: 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. Complete this question by entering your answers in the tabs below. Specific Id Weighted Average FIFO LIFO
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