5-3 Saved Help 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 Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost 235 units @ $16.00 - $ 3,760 1 S 180 units@ $15.00 - 2,700 AS 370 units $14.50 - 5.365 785 units -- $11,825 Units sold at Retail 185 units @ 0 $25.00 units @ $25.00 2 - 385 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 400 units, where 370 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory. Exercise 5-3 Perpetual: Inventory costing methods LO P1 Required: 1. Complete the table to determine the cost assigned to encina inventory and cost of goods sold using specific identification Prey 1 of 1 Next 05 Ex53 Help Required information Perpetual FIFO: Goods Purchased of Cost per units unit Cost of Goods Sold of units Cost per Cost of Goods s old unit Sold Date Inventory Balance Cost per Inventory # of units Balance 235 @ S 16.00 = $ 3,760.00 January 1 January 10 Ask January 20 Print eferences January 25 January 30 Totals Required information Perpetual LIFO: Goods Purchased # of Cost per units unit Cost of Goods Sold # of units Cost per cost of Goods sold Sold Date Inventory Balance of units Cost per Inventory unit Balance 235 @ $ 16.00 = $ 3.760.00 ok January 1 January 10 sk January 20 Tences January 25 January 30 Totals 1 of 1 1 Next