Ch 05 Homework Required information Saved Help Save & Exit Se [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 305 units, where 275 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory Date Activities Jan. 1 Beginning inventory Units Acquired at Cost 175 units @ $10.00 $1,750 Units sold at Retail 6:00 Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales: Jan. 30 Purchase Totals 135 units $19.00 130 units $9.00 275 units $8.00- 580 units 1,170 140 units @ $19.00 2,200 $5,120 275 units Required: Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average FIFO, and (d) LIFO. Complete this questions by entering your answers in the below tabs.