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. Answer is not complete. Complete this question by entering your answers in the tabs below. Specific to Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO Goods Purchased #ol Cost pel units unit Cost of Goods Sold Cost #of units Cost of Goods sold unit Sold Inventory Balance Cost of units Inventor Balance Date per per January 1 140 58.00 534000 January 10 January 20 January 25 January 30 Required information [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 200 units, where 180 are from the January 30 purchase. 5 are from the January 20 purchase, and 15 are from beginning inventory Date Activities Units Acquired at cost Units sold at Retail Jan. 1 Beginning inventory 140 units@ $6.00 - $ 840 Jan. 10 Sales 100 units@ $15 Jan. 20 Purchase 60 units @ $5.00 Jan. 25 Sales se units @ $15 Jan. 30 Purchase 180 units $4.50 = 810 Totals 380 units $1,950 180 units 300 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Specific to Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO Goods Purchased #ol Cost pel units unit Cost of Goods Sold Cost #of units Cost of Goods sold unit Sold Inventory Balance Cost of units Inventor Balance Date per per January 1 140 58.00 534000 January 10 January 20 January 25 January 30 Required information [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 200 units, where 180 are from the January 30 purchase. 5 are from the January 20 purchase, and 15 are from beginning inventory Date Activities Units Acquired at cost Units sold at Retail Jan. 1 Beginning inventory 140 units@ $6.00 - $ 840 Jan. 10 Sales 100 units@ $15 Jan. 20 Purchase 60 units @ $5.00 Jan. 25 Sales se units @ $15 Jan. 30 Purchase 180 units $4.50 = 810 Totals 380 units $1,950 180 units 300
