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.

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. Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 220 units $14.50 - $3,190 Jan. 10 Sales 170 units @ $23.50 Jan. 20 Purchase 170 units $13.50 - 2,295 Jan. 25 Sales 200 units @ $23.50 Jan. 30 Purchase 340 units $13.00 - 4,420 Totals 730 units $9,905 370 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 360 units, where 340 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. 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 by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. (Round cost per unit to 2 decimal places.) Specific Identification Available for Sale Cost of Goods Sold Purchase Date Ending Inventory Ending Ending Cost Per Inventory Inventory- Units Unit Cost Activity Units Unit Cost Units Sold Unit Cost COGS 220 Jan. 1 Jan. 20 Jan. 30 Beginning inventory Purchase Purchase 170 340 730 0 $ $ 0 Required Required 2 > 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. Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 220 units! $14.50 - $3,190 Jan. 10 Sales 170 units $23.50 Jan. 20 Purchase 170 units $13.50 - 2,295 Jan. 25 Sales 200 units @ $23.50 Jan. 30 Purchase 340 units $13.00 - 4,420 Totals 730 units $9,905 370 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 360 units, where 340 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. 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 by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal places.) Weighted Average - Perpetual: Goods Purchased Cost of Goods Sold Inventory Balance # of units Date Cost per unit # of units sold Cost per Cost of Goods unit Sold Cost per # of units Inventory Balance unit January 1 220 @ $ 14.50 = $ 3.190.00 January 10 January 20 Average cost January 25 January 30 Totals 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. Date Activities Units Aequired at Cost Units sold at Retail Jan. 1 Beginning inventory 220 units $14.50 - $3,190 Jan. 10 Sales 170 units @ $23.50 Jan. 20 Purchase 170 units! $13.50 - 2,295 Jan. 25 Sale 200 units @ $23.50 Jan. 30 Purchase 340 units $13.00 - 4,420 Totals 730 units $9,905 370 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 360 units, where 340 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. 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 by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. (Round cost per unit to 2 decimal places.) Perpetual FIFO: Goods Purchased # of Cost units per unit Cost of Goods Sold # of units Cost Cost of Goods sold per unit Sold Date Inventory Balance # of units Cost per Inventory unit Balance 220 @ $ 14.50 = $ 3.190.00 January 1 January 10 January 20 January 25 January 30 Totals 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. Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 220 units $14.50 - $3,190 Jan. 10 Sales 170 units @ $23.50 Jan. 20 Purchase 170 units $13.50 - 2,295 Jan. 25 Sales 200 units @ $23.50 Jan. 30 Purchase 340 units $13.00 - 4,420 Totals 730 units $9,905 370 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 360 units, where 340 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. 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 by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. (Round cost per unit to 2 decimal places.) Perpetual LIFO: Goods Purchased # of Cost units per unit Cost of Goods Sold # of units Cost Cost of Goods sold per unit Sold Date Inventory Balance Cost per # of units Inventory unit Balance 220 @ $ 14.50 = $ 3,190.00 January 1 January 10 January 20 January 25 January 30 Totals