(Answered) Question - laker company reported the following january

Accounting

Question - Laker Company reported the following January purchases and sales data for its only product.

Date	Activities	Units Acquired at Cost	Unit 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 = 300
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 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.

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