# Jan 1. Acticity:Beginning Inventory. Units Acquired at Cost:140 units @ \$7.00 = \$980 Jan 10. Activity:Sales.Units Sold at Retial:90 units @ \$15 Jan…

Jan 1. Acticity:Beginning Inventory. Units Acquired at Cost:140 units @ \$7.00 = \$980Jan 10. Activity:Sales.Units Sold at Retial:90 units @ \$15Jan 20. Activity:Purchase. Units Acquired at Cost: 220 units @ \$6.00 = 1,320Jan 25. Activity:Sales. Units Sold at Retail:145 units @ \$15Jan 30. Activity:Purchase. Unites Acquired at Cost:100 units @ \$5.00 = 500Totals: Units Acquired at Cost: 460 units/\$2,800. Units Sold at Retail: 235 unitsLiberty uses a perpetual inventory system. Ending inventory consists of 225 units. 100 from the January 30 purchase, 80 from the January 20 purchase, and 45 from the 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. (Round per unit coses to three decimals, but inventory blances to the dollar.)5 days ago – 3 days left to answer. Report AbuseAdditional DetailsUsing this same information, assume the periodic inventory system is used. Determine the costs assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c) FIFO, (d) LIFO. (Round per unit costs to three decimals, but inventory balances to the dollar.)

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