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2 Required information Use the following information for the Exercises below. The following information applies to the questions displayed below! Laker Company reported the following

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2 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 145 units $7.00 - $1,015 Jan. 10 Sales 105 units $16.00 Jan. 20 Purchase 70 units 56.00 - 420 Jan. 25 Sales 55 units 516.00 Jan. Purchase 190 units 55.101.045 Totals 405 units 52.480 190 units The Company uses a perpetual inventory system For specific identification, ending inventory consists of 215 units, where 190 are from the January 30 purchase, 5 are from the January 20 purchase and 20 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. Answer is not complete Answer is not complete 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 z decimal places.) Specific dentification Available for Sale Purchase Date Cost of Goods Sold Units Unit Sold Cost COGS Ending leventory Ending Cost Ending Inventory Per Inventory Units Unit Cost Unit Cost Activity Units 145 Jan 1 Jan 20 lan 30 Beginning inventory Purchase Purchase 70 190 405 $ 700 5 600 5550 0 $ 0 NE Required 2 > Required information Required Required 2 Required 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 w of Cost Date units per unit January 1 January 10 Wor units sold Cost of Goods Sold Cost Cost of per Goods Sold unit Inventory Balance Cost of units Inventory per Balance 145 $ 700 $1.01500 January 20 70 le $ 6.00 @ 70 @ $ 6.00 70 420 00 $ 42000 Average cost January 25 January 30 Totals 10 of 10 !!! 9 Required information Required Required 2 Required) Required 102 Determine the cost assigned to ending inventory and to cost of goods sold using Furo. (Round cost per unit to 2 decimat place) -6 Perpetual FF Goods.Purchased or Cost per units Cost of Goods Sold 8 of units Cost Cost of Goods per sold unit Sold Date tentory Balance Cost of units per Inventory Balance un 145 5 700 15 1.015.00 January 1 January 10 January 20 January 25 January 30 Totals (Required 2 Required 4 > TRE Mart > 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.) Cost of Goods Sold Cost of units Cost of sold per Goods Sold unit per Perpetual LIFO: Goods Purchased of Cost Date units unit January 1 January 10 January 20 Inventory Balance Cost of units per Inventory Balance unit $ $ 700 1.015.00 145 January 25 January 30 Totals

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