Chapter 05-Inventory Costing Methods 10 Skipped Sevd 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 180 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning Inventory. eBook Hint Date January 1 January 10 January 20 January 25 January 30 Activities Beginning Inventory Sales Purchase Sales Purchase Totals Required: 140 units Units Acquired at Cost $ 6.00- Units sold at Retail $840 100 units # $ 15 60 units $5.00- 300 80 units 85 15 180 units 380 units $4.50 810 $1,950 180 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 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 # of Purchase Date Activity # of units Cost Per Unit units sold Cost Per Unit Cost of Goods Sold Ending COGS Inventory Ending inventory Cost Per Unit Ending Inventory Units Cost January 1 Beginning inventory 140 January 20 Purchase 60 January 30 Purchase 180 300 O 0 Weighted Average