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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 380 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory Date Activities Units Acquired at Cost Units sold at Retail January 1 Beginning inventory 248 units @ $ 16.50 = $ 3,960 January 10 Sales 190 units e $ 25.50 January 20 Purchase 170 units @ $ 15.50 - 2,635 January 25 Sales 190 units $ 25.50 January 30 Purchase 380 units @ $ 15.00 5,700 Totals 790 units $ 12, 295 380 units Exercise 6-6A (Algo) Periodic: Inventory costing LO P3 The AR CREAR Antist in den 30 9 Specific id Weighted FIFO LIFO Average Determine the cost assigned to ending inventory and to cost of goods sold using specific identification. For specific identification, ending inventory January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory a) Specific Identification Cost of Goods Available for Sale Cost al Goods Sold Ending Inventory Cost per Cost of Goods #of units of units in Cost per Cost per cost of Goods of units Ending Available for unit sold unit Sold ending unit Inventory Sale inventory Beginning inventory Purchases: January 20 January 30 Total 0 $ 0 0 $ 0 $ 0 Weighted Average > 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 places.) b) Weighted average - Periodic Cost of Goods Available for Sale Cost of Goods Sold Ending Invente Averago # of units of units in Available for Cost per Cost of Goods Average Cost per unit sold ending Sold Sale Unit Inventory per unit Beginning inventory Purchases: January 20 January 30 Total $ #of units Average Costs Cost of Goods 0 0 Specific Id Weighted FIFO LIFO Average Determine the cost assigned to ending Inventory and to cost of goods sold using FIFO, 4) Periodic FFD Cost of Goods Available for Sale Cost of Goods Bold Cost per Cost of Goods of units Cost per Cost of Goods of units unit Available for sale sold unit Sold Ending Inventory # of units in Cost ending unit Inventory Ende Invent Beginning inventory Purchases January 20 January 30 TO 0 s 5 5 Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. d) Periodic LIFO Cost orthoods Sold Coat of Goods Available for Sale Cost per Cost of Goods #of units unit Available for Sale # of units sold Cost per unit Cost of Goods Sold Ending Inventory of units in Cost per Endle ending unit Invent Inventory Beginning inventory Purchases: January 20 January 30 Total 0 $ 0 0 $ 0 0 $