IE Exercise $5-3($Algo$)$: Perpetual: Inventory costing methods LO P$1$

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 $210$ units from the January $30$ purchase, $5$ units from the

January $20$ purchase, and $30$ units from beginning inventory.

Required:

Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification.

Determine the cost assigned to ending inventory and to cost of goods sold using weighted average.

Determine the cost assigned to ending inventory and to cost of goods sold using FIFO.

Determine the cost assigned to ending inventory and to cost of goods sold using LIFO.

Navigation:

Use the Open Excel in New Tab button to launch this question.

When finished in Excel, use the Save and Return to Assignment button in the lower right to return to Connect.