1 2 points eBook Hint Print References ! 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. For specific identification, ending inventory consists of 190 units from the January 30 purchase, 5 units from the January 20 purchase, and 20 units from beginning inventory. Date January 1 January 10 January 20 January 25 January 30 Activities Beginning inventory Sales Purchase Sales. Purchase Totals Assume the perpetual inventory system is used. Required: Units Acquired at Cost $ 7.00 = $ 6.00 = 145 units @ 70 units @ 190 units @ 405 units $ 5.50 = $ 1,015 420 1,045 $ 2,480 Units sold at Retail 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. 105 units 85 units 190 units $ 16.00 @ $ 16.00 @ 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.

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. For specific identification, ending imventory consists of 190 units from the January 30 purchase, 5 units from the January 20 purchase, and 20 units from beginning inventory. Assume the perpetual inventory system is used. Required: 1. Complete the table to determine the cost assigned to ending inventory and cost of goods sold usirh 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