Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. (Round cost per unit to 2 decimal places.)

Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. (Round cost per unit to 2 decimal places.)

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. Units sold at Retail Date Activities Units Acquired at Cost Jan. 1 Beginning inventory 215 units@ $14.00 = $3,010 Jan. 10 Sales Jan. 20 Purchase 160 units@ $13.00 = 2,080 Jan. 25 Sales Jan. 30 Purchase 330 units@ $12.50 = 4, 125 Totals 705 units $9,215 165 units @ $23.00 190 units @ $23.00 355 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 350 units, where 330 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. 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. Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. (Round cost per unit to 2 decimal places.) Perpetual FIFO: Goods Purchased Cost of Goods Sold Inventory Balance Cost per Inventory # of units unit Balance Date # of units Cost per unit # of units sold Cost per unit Cost of Goods Sold January 1 215 @ $ 14.00 - $ 3,010.00 January 10 165 @ $ 14.00 = $ 2,310.00 $ 14.00 = January 20 160 @ $ 13.00 @ $ 14.00 @ $ 13.00 January 25 3 January 30 330 @ $ 12.50 $ 12.50 Totals 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. Units sold at Retail 165 units @ $23.00 Date Activities Units Acquired at Cost Jan. 1 Beginning inventory 215 units@ $14.00 = $3,010 Jan. 10 Sales Jan. 20 Purchase 160 units@ $13.00 = 2,080 Jan. 25 Sales Jan. 30 Purchase 330 units@ $12.50 = 4, 125 Totals 705 units $9,215 190 units @ $23.00 355 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 350 units, where 330 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. 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. 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.) Perpetual LIFO: Goods Purchased Cost of Goods Sold Inventory Balance # of Cost # of units Cost Cost of Goods Date Cost per Inventory units per unit sold per unit Sold # of units unit Balance January 1 1 215 @ $ 14,00 - $ 3,010.00 January 10 January 20 January 25 January 30 Totals