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

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1

Laker Company reported the following January purchases and sales data for its only product.
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Laker Company uses a perpetual inventory system. For specific identification, ending inventory consists of 360 units, where 180 are from the January 30 purchase, 75 are from the January 20 purchase, and 105 are from beginning inventory.

  1. Determine the cost assigned to ending inventory and to cost of goods sold using weighted average.
  2. Determine the cost assigned to ending inventory and to cost of goods sold using FIFO.
  3. Determine the cost assigned to ending inventory and to cost of goods sold using LIFO.