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...

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.

Extracted text: Laker Company reported the following January purchases and sales data for Its only product. Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 140 units @ $6.00 = $ 840 Jan. 10 Sales 100 units @ 15 Jan. 20 Purchase 60 units @ $5.00 = зее Jan. 25 Sales 80 units @ $ 15 Jan. 30 Purchase 180 units @ $4.50 = 810 Totals 380 units $1,950 180 units Required: The Company uses a perlodic 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) welghted average, () FIFO, and (d) LIFO. Complete this question by entering your answers in the tabs below. Weighted Average Specific Id 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 Cost of Goods Sold Ending Inventory # of units Average Average Cost of Goods # of units Cost per Available for Sale # of units sold Average Cost per Unit Cost of Ending Inventory in ending Cost Goods Sold unit inventory per unit Beginning inventory 140 840 Purchases: Jan. 20 60 300 Jan. 30 180 810