Question: Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of 300 units from the

its only product. For specific identification, ending inventory consists of 300 units

Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of 300 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory. Determine the cost assigned to ending inventory and to cost of goods sold using LIFO

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