09 oints 02:58:55 Required information 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 perpetual inventory system. For specific identification, ending inventory consists of 370 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Date January 1 Activities Beginning inventory January 101 Sales January 20 Purchase January 25 Sales January 30 Purchase Totals Units Acquired at Cost 220 units @ $14.50- 170 units @$13.50- Units sold at Retail 370 units $13.00- 760 units $3,190 2,295 4,810 $10,295 170 units $ 23.50 200 units $ 23.50 370 units Exercise 6-3 (Algo) Perpetual: Inventory costing methods LO P1 Required: 1. Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. 2. Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. 3. Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. 4. Determine the cost assigned to ending inventory and to cost of goods sold using LIFO Complete this question b Complete this question by entering your answers in the tabs below. Specific id Weighted Average FIFO LIFO Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification Specific Identification Available for Sale Cost of Goods Sold Ending Inventory Purchase Date Activity 9 of units Cost Per Unit of units sold Cost Per Unit COOS Ending Inventory Units Cost Per Unit Ending Inventory-Cost January 1 Beginning inventory 220 January 20 Purchase 170 January 30 Purchase 370] 760 Specific id Weighted Average > Specific d weighted Average FIFO LIFO Determine the cost assigned to ending loventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal places) Weighted Average Perpetual: Cost of Goods Sold Date of units Goods Purchased Cost per unit of units sold Cost per unit Cost of Goods Sold of units Inventory Balance Cost per unit Inventory Balance 220 at S 14.50 $ 3.190.00 January 11 January 10 January 201 Average cois January 20 January 25 January 30 Totals Goods Purchased Date # of units Cost per unit # of units soldi January 1 January 10 January 20 Total January 20 January 25 Total January 25 January 30 Totals Perpetual FIFO: Cost of Goods Sold Inventory Balance Cost per unit Cost of Goods Sold # of units Cost per unit Inventory Balance 220 at $14.50 3,190.00 < Weighted Average LIFO > 2:58:03 Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. Goods Purchased Perpetual LIFO: Cost of Goods Sold Inventory Balance Date # of units Cost per unit of units sold Cost per Cost of Goods unit Cost per # of units Soldi unit Inventory Balance January 1 220 at $14.50 $ 3,190.00 January 10 January 20 Total January 201 January 25 Total January 25 January 30 Totals