Question: please solve it from the scratch as old solutions were not helpful to understand. thanks Required information [The following information applies to the questions displayed

 please solve it from the scratch as old solutions were not

please solve it from the scratch as old solutions were not helpful to understand. thanks

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. Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan.20 Purchase Jan. 25 Sales Jan. 30 Purchase Units sold at Units Acquired at Cost Retail 140 units@ $6.00 = $ 840 100 units@ $15 60 units@ $5.00 = 300 80 units@ $15 180 units@ $4.50= 810 380 units $1,950 180 units Totals Required: The Company uses a periodic inventory system. For specific identification, ending inventory consists of 200 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are 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. Complete this question by entering your answers in the tabs below. Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal places.) b) Weighted Average Cost of Goods Available for Sale Average Cost of Goods # of units Cost per Available for unit Sale 140 840 Cost of Goods Sold # of units Average Cost of sold Cost per Goods Sold Unit Ending Inventory # of units Average Ending in ending Cost Inventory inventory per unit Beginning inventory Purchases Jan. 20 60 300 Jan. 30 180 810 Total 380 $ 4.50 $ 1,950 1.950.00 0.00 200 S 4.90 s 980.00

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