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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 Date Activities Units Acquired at Cost Units sold at Retail January 1 Beginning inventory 140 units @ $6.00 $ 840 January 10 Sales 108 units $ 15 January 20 Purchase 60 units @ $5.00 January 25 80 units @ $ 15 January 30 Purchase 180 units 5 4.50 Totats 380 units $ 1,950 180 units 300 Sales 810 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. Required information Complete this question by entering your answers in the tabs below. Weighted Specific Id FIFO LIFO Average 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 Goods Purchased Cost of Goods Sold Inventory Balance Date Cost of units Cost Cost Cost of Goods # of units Inventory per of units per sold per Balance unit Sold unit unit January 1 140 at $ 6.00 $ 840.00 January 10 100 $ 6.00 $ 600.00 40 at 5 6.00 $240,00 60M $ 5.00 40 at $ 6.00 $240.00 January 20 60 35.00 300.00 Average cost January 20 100 at $540,00 January 25 80 $ 5.29 $ 423 20 20 at 180 5.450 20 at January 30 180 at $ 4.50 310.00 Totals 1 023 20 200 at Spesified FIFO > Required information Specific la HIFO LIPO Average Determine the cost assigned to ending Inventory and to cost of goods sold using FIFO. Perpetual ElFO: Goods Purchased Cost of Goods Sold Inventory Balance Date Cost Cost Cost # of units Cost of Goods Inventory # of units per per N of units per sold Sold unit Balance unit unit January 1 140 $6.00 $ 840.00 January 10 January 20 Total January 20 January 25 Total January 25 January 30 Totals Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. Perpetual LIFO: Cost of Goods Sold Cost # of units Cost of per sold Goods Sold unit Goods Purchased Cost # of units unit Date per Inventory Balance Cost # of units Inventory per Balance unit s 140 at $6.00 840.00 January 1 January 10 January 20 Total January 20 January 25 Total January 25 January 30 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. 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 Date Activities Units Acquired at Cost January 1 Beginning inventory Units sold at Retail 140 units 5 6.00 $ 840 January 10 Sales January 20 Purchase 200 units O $15 6 units @ $5.00 300 January 25 Sales 80 units @ $ 15 January 30 Purchase 180 units $ 4.50 810 Totals 380 units $ 1,950 180 units 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. 102 Complete this question by entering your answers in the tabs below. 5 its Book Hint Specific id Weighted FIFO LIFO Average Determine the cost assigned to ending Inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal pl Vighted Average: Perpetual Goods Purchased Cost of Goods Sold Inventory Balance Date of Cost per Cost per Cost of Goods Cost per of units unit units Inventory unit of units Sold sold unit Balance January 1 140 at $ 6.00 $ 840.00 January 10 100 S 6.00 s 600.00 40 at $ 6.00 $ 240.00 60 a $5.00 January 20 40 at $6.00 $ 240.00 60 at $ 5.00 300.00 Average cost January 20 $ 540.00 January 25 80 at $5.29 $ 423.20 20 at 1801 a $ 4.50 January 30 20 at 180 at $ 4,50 Totals 810.00 $ 1,023.20 200 at D Herences 100 at Specifield FIFO > of 2 Weighted Specific Id FIFO LIFO Average 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 #of units Cost per # of units Cost per Cost of Goods unit Inventory sold # of units unit Sold unit Balance January 1 140 at $ 6.00 $ 840.00 Date Cost per POR January 10 int 0 January 20 rences Total January 20 January 25 Total January 25 January 30 Totsis Required information 1 of 2 Specific Id Weighted Average FIFO LIFE 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 #of units Cost per Cost of Goods # of units Cost per Inventory unit sold unit Sold unit Balance January 1 140 at $ 6.00 - $840.00 Book January 10 Hint a January 20 rences Total January 20 January 25 Total January 25 January 30 Totals