1 Required Information The following information apples to the questions displayed below) Part 1 of 2 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 290 units, where 270 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning Inventory 1 points Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost Units sold at Retail 18 units 310.50 $1,890 140 units P $19.50 110 units $9.50 1,045 130 units @ $19.50 270 units 39.00 2.430 560 units 55,365 270 units Book Hint Required: Determine the cost assigned to ending Inventory and to cost of goods sold using a specific identification, (b) weighted average. FIFO, and (LIFO. Complete this questions by entering your answers in the below tabs. Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. Cost of Goods Available for sale Cost of Goods of units Cost per Available for unit Sale 100 10.50 1.800 Cost of Goods Sold Ending Inventory of units Cost per Cost of of units Cost Ending sold Goods Sold In ending Inventory per unit Inventory 1801 S 10.50 5 Beginning inventory 110 0.50 1.045 Jan 20 Jan 30 Total 270 500 2430 8.306 0 180 3 1000 270 S 0.00 270 2.430 2.430 5 apter 5 Exercise Questions 1 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 tnventory consists of 290 units, where 270 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory on 1 of 2 int Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 2e Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost Units sold at Retail 180 units @ $10.50 11,8 140 units e 519.50 110 units @ $9.50 1,045 130 units $19.50 270 units $9.00 2,430 560 units 35,365 278 units eBook Het References Required: Determine the cost assigned to ending inventory and to cost of goods sold using a specific identification. (of weighted average, (o FIFO, and UFO Complete this questions by entering your answers in the below tabs. Specific 1d Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. Cost of Goods Avital for sale Cost of Goods of units coste Available for unit Sale 180 10.505 1.300 Cost of oods Sold of units Cost per Cost of sold Goods Sold Ending Inventory W of units in ending Cost Ending inventory per unit Inventory Beginning inventory Purchase Jan 20 1.045 110 270 0.50 9.00 Jan 30 Total 500 5 5.300 3