D 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. For specific Identification, ending Inventory consists of 300 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning Inventory. Date January 1 January 10 Activities Beginning inventory Sales Units Acquired at Cost 200 units @ $12.50 = Units sold at Retail $ 2,500 160 units January 20 January 25 January 30 Purchase Sales Purchase Totals 130 units @ $11.50 = 300 units @ 630 units 1,495 140 units @ @ $ 21.50 $ 21.50 $ 11.00 = 3,300 $ 7,295 300 units Assume the perpetual Inventory system is used. 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. Complete this question by entering your answers in the tabs below. Specific Identification Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO: Goods Purchased Cost of Goods Sold Inventory Balance Date # of units Cost per unit # of units sold Cost per Cost of Goods # of units unit Sold Cost per unit Inventory Balance January 1 200 at $12.50 = $ 2,500.00 January 10 160 at $12.50 $ 2,000.00 40 at $12.50 = $ 500.00 130 at $ 11.50 40 at January 20 130 at $12.50 = $ $11.50 = 500.00 1,495.00 Total January 20 S 1,995.00 10 at $12.50 125.00 30 at $ 12.50 375.00 January 25