Required information Use the following information for the Exercises - Required information Use the following information for the Exercises

Required information Use the following information for the Exercises

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Required information Use the following information for the Exercises below. (The following information applies to the questions displayed below.) Laker Company reported the following January purchases and sales data for its only product. Date Activities Jan. Beginning - inventory Jan.10 Sales Jan.20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost Units sold at Retail 160 units @ $8.50- $1,360 120 units @ $17.50 100 units @ $7.50 - 750 120 units @ $17.50 240 [email protected] $7.00 - 1,680 500 units $3,790 240 units Exercise 5-5A Periodic: Inventory costing LO P3 Required: The Company uses a periodic inventory system. For specific identification, ending inventory consists of 260 units, where 240 ar the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. Determine the cost assig ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average. (C) FIFO, and (d) LIFO. Complete this questions by entering your answers in the below tabs. Specific Id Weighted

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