2 ! 2 points 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 perpetual inventory system. For specific identification, ending inventory consists of 260 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory. eBook Date Hint January 1 January 10 January 20 January 25 January 30 Print References Required: Activities Beginning inventory Units Acquired at Cost 170 units $ 9.50 = Units sold at Retail $ 1,615 Sales Purchase Sales Purchase Totals 130 units @ $ 18.50 120 units @ $ 8.50 = 1,020 130 units $ 18.50 260 units $ 8.00 = 2,080 550 units $ 4,715 260 units 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. Specific Id Weighted Average FIFO LIFO 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 # of units Cost Per Unit # of units Cost Per Unit sold COGS Ending Inventory- Units Cost Per Unit Ending Inventory-Cost January 1 January 20 January 30 Beginning inventory Purchase 170 120 Purchase 260 550 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: Cost of Goods Sold January 1 January 10 January 20 Goods Purchased Inventory Balance Date Cost per # of units # of units unit sold Cost per unit Cost of Goods Sold # of units Cost per unit Inventory Balance 170 at $ 9.50 = $ 1,615.00 Average cost January 20 January 25 January 30 Totals Date January 1 January 10 January 20 Total January 20 Goods Purchased # of units Cost per unit # of units sold January 25 Total January 25 January 30 Totals Perpetual FIFO: Cost of Goods Sold Cost per Cost of Goods unit Sold # of units 170 at Inventory Balance Cost per Inventory Balance unit $ 9.50 = $ 1,615.00 Goods Purchased Date # of units Cost per unit # of units sold January 1 January 10 January 20 Total January 20 January 25 Total January 25 January 30 Totals Perpetual LIFO: Cost of Goods Sold Cost per Cost of Goods unit Sold # of units Inventory Balance Cost per Inventory Balance unit 170 at $9.50 = $ 1,615.00