12 Required information Use the following information for the Exercises below. (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 185 units@ $11.00 = $2,835 Jan. 10 Sales 145 units @ $20.00 Jan. 20 Purchase 100 unitse $10.00 = 1,000 Jan. 25 Sales 125 units @ $20.00 Jan. 30 Purchase 270 units@ $ 9.50 = 2,565 Totals 555 units $5,600 270 units The Company uses a perpetual inventory system. For specific identification, ending Inventory consists of 285 units, where 270 are from the January 30 purchase, 5 are from the January 20 purchase, and 10 are from beginning inventory Exercise 5-3 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 by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Exercise 5-3 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 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 Activity Units Unit Cost Units Sold Ending Inventory Ending Ending Cost Por Inventory. Inventory Units Cost Unit Cost COGS Unit an 1 an 20 an 30 Beginning inventory Purchase Purchase 185 100 270 555 Required 2 > 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 Inventory Balance #of units Date Cost per unit Cost of Goods Sold Cost per Cost of Goods unit Sold # of units sold #of units Cost per unit Inventory Balance January 1 185 @ $ 11.00 = $ 2,035.00 January 10 January 20 Average cont Jan 5 January 30 Totals Required information 2 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 Cost of Goods Sold Inventory Balance Cost per Date #of units Cost unit N of units sold Cost of Goods Sold # of units Cost per unit Inventory Balanco unit January 1 185 $ 11.00 = $ 2,035.00 January 10 January 20 January 25 January Totals Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 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 per units unit Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Date Inventory Balance Cost per Inventory # of units unit Balance 185 @ $ 11,00 = $ 2,035.00 January 1 January 10 January 20 January 25 January Totals