Enabled: Exam $2$: Chapters $4,5$ & $6$

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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 $355$ units from the January $30$ purchase, $5$ units from the January $20$ purchase, and $15$ units from beginning inventory.

$\backslash$table$[[$Date$,$Activities,Units Acquired at Cost,Units sold at Retail$],[$January $1,$Beginning inventory,$215$ units,@$,$$$,14\mathrm{.}00=,$$$,3,010,,,,],[$January $10,$Sales,,,,,,,$165$ units,@$,$$$,23\mathrm{.}00],[$January $20,$Purchase,$160$ units,@$,$$$,13\mathrm{.}00=,,2,080,,,,],[$January $25,$Sales,,,,,,,$190$ units,@$,$$$,23\mathrm{.}00],[$January $30,$Purchase,$355$ units,@$,$$$,11\mathrm{.}00=,,3,905,,,,],[,$Totals,$730$ units,,,,$$,8,995,355$ units,,,$]]$

The Company uses a periodic inventory system. For specific identification, ending inventory consists of $355$ units from the January $30$ purchase, $5$ units from the January $20$ purchase, and $15$ units from beginning inventory. Determine the cost assigned to ending inventory and to cost of goods sold using

$($a$)$ specific identification,

$($b$)$ weighted average,

$($c$)$ FIFO, and

$($d$)$ LIFO.