Ch $5HW($i$)$

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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 $230$ units, where $180$ are from the January $30$ purchase, $5$ are from the January $20$ purchase, and $45$ are from beginning inventory.

$\backslash$table$[[$Date$,$Activities,,Units,Acquire,red at$,$Cost,,Units sold,$d$ at$,$Retail$],[$January $1,$Beginning inventory,$155,$units,$$,6\mathrm{.}00,=,$$$930,,,],[$January $10,$Sales,,,,,,,$85$ units,@$,$$$15\mathrm{.}00$

$!$

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 $230$ units, where $180$ are from the January $30$ purchase, $5$ are from the January $20$ purchase, and $45$ are from beginning inventory.

Required:

Assume the periodic inventory system is used. Determine the cost assigned to ending inventory and to cost of goods sold $4$ sing $($a$)$: specific identification, $($b$)$ weighted average, $($c$)$ FIFO, and $($d$)$ LIFO:

Complete this question by entering your answers in the tabs below. are from the Jamary $30$ purchase, $5$ are from the January $20$ purchase, and $45$ are from beginning inventory: