6 art 1 of 3 nts Required information Use the following information for the Exercises 3-7 below. (Algo) [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 190 units from the January 30 purchase, 5 units from the January 20 purchase, and 20 units from beginning inventory. Book Date Activities January 1 Beginning inventory Hint January 10 Sales January 20 Prest January 25 Purchase Sales January 30 ferences Purchase Totals 145 units Units Acquired at Cost $7.00- Units sold at Retail $1,015 105 unite $16.00 70 units $ 6.00- 420 85 unite $16.00 190 units 405 units $5.50- 1,045 $2,480 190 units Exercise 5-3 (Algo) 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. 1of3 Complete this question by entering your answers in the tabs below. 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. Book Specific Identification Hint Available for Sale Print Purchase Date Cost Per Activity # of units Unit sold Cost of Goods Sold of units Cost Per Unit Ending Inventory COGS Ending Inventory- Cost Per Unit Ending Inventory-Cost rences Units January 11 Beginning inventory January 201 Purchase January 30 Purchase 9288 145 190 405 0 $ $ Specific id Weighted Average > Complete this question by entering your answers in the tabs below. Specific Id Weighted Average FIFO LIFO 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: January 1 January 10 Goods Purchased Cost of Goods Sold Inventory Balance Date # of units Cost per unit of units sold Cost per unit Cost of Goods Sold # of units Cost per unit Inventory Balance 145 at $ 7.00- $ 1,015.00 January 201 Average cost January 20 January 25 January 30 Totals < Prev 6 7 8 of 8 Next > 0 of 3 Required information Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. Goods Purchased+ Perpetual FIFO: Cost of Goods Sold Date # of units Cost per unit # of units sold Cost per Cost of Goods unit Sold # of units unit Inventory Balance Cost per Inventory Balance January 1 145 at $7.00 S 1,015.00 ook January 10 int i January 201 ant ences Total January 201 January 25 Total January 25 January 301 Totals Weighted Average LIFO >> Specific Id Average 13 FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. Perpetual LIFO: Goods Purchased Cost of Goods Sold Inventory Balance Date # of units Cost per unit # of units sold Cost per Cost of Goods unit Sold Cost per # of units Inventory Balance unit January 1 145 at $7.00 $ 1,015.00 January 10 t ces January 201 Total January 20 January 25 Total January 25 January 30 Totals