Answer Happy

16 2 Book Hiy b Prin References Use the following information for the Exercises 3-7 below. (Algo) (The following information applies to the questions displayed below] Laker Company reported the following January purchases and sales data for its only product. The Company uses a periodic inventory system. For specific identification, ending inventory consists of 234 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 49 are from beginning inventory Activities Date Jan. Beginning Lovestory Jan. 10 Sales sita Acquired at Cost Unite sold at Retail 153 units $6.00-942 #unite 15,00. 37 units $15.00 Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purebase 77 units 35.00- 385 180 unita 14.50- 810 414 units 12,137 180 units Total Exercise 5-3 (Algo) Periodic: Inventory costing methods LO P1 Required: Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average. (d) FIFO, and (d) LIPO Complete this question by entering your answers in the tabs below. weighted Speci FIFO LIFO