Requlred Intormation

Use the following information for the Exercises $3-7$ below. $($Algo$)$

$[$The following information applies to the questions displajed below:t$.$

Laker Company reported the following January purchases and sales data for its only product For specific identification.

ending inventory consists of $280$ units from the January $30$ purchase, $5$ units from the January $20$ purchase, and $15$ units

from beginning limentory$.$

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

Assume the perpetuat inventory system is used.

Required:

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

$2$ Determine the cost assigned to ending inventory and to cost of goods sold using weighted average.

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

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

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