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In: Accounting

Laker Company resported the following January Purchases and sales datat for its only product Date Activies...

Laker Company resported the following January Purchases and sales datat for its only product

Date Activies Units acquired at Cost Units Sold at Retail
Jan 1 Begining Inventory 140 units @ $6.00 = $840
Jan 10 Sales 100 Units @ $15
Jan 20 Purchase 60 units @ $5.00 = 300
Jan 25 Sales 80 units @ $15
Jan 30 Purchases 180 units @ $4.50 = 810
Total 380 units                   $1950 180 units

Required
The company uses a perpetual inventory system. 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. (Round per unit costs and inventory amount to cents.) For specific identification, ending inventory consist of 200 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory.

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