SECOND PART

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. etermine the cost assigned to ending inventory and to cost of goods sold using weighted average. ote: Round cost per unit to 2 decimal places. Journal entry worksheet 1 Note: Enter debits before credits. Journal entry worksheet 1 Note: Enter debits before credits. Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of 270 units from the January 30 purchase, 5 units from the January 20 purchase, and 10 units from beginning inventory. ssume the perpetual inventory system is used. equired: 1. 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. 3. Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. 4. Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet 1 Note: Enter debits before credits. 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 270 units from the January 30 purchase, 5 units from the January 20 purchase, and 10 units from beginning inventory. ecord journal entries for Laker Company's sales and purchases transactions. Assume for this assignment that the company uses erpetual inventory system and FIFO. All sales and purchases are made on account, and no discounts are offered. Journal entry worksheet 1 Record the purchase of inventory. Note: Enter debits before credits. Journal entry worksheet 4 Note: Enter debits before credits