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O 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. Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 210 unitse $13.50 = $2,835 Jan. 10 Sales 160 units e $22.50 Jan. 20 Purchase 150 units@ $12.50 - 1,875 Jan. 25 Sales 180 units @ $22.50 Jan. 30 Purchase 320 unitse $12.00 - 3,840 Totals 680 units $8,550 340 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 340 units, where 320 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification (Round cost per unit to 2 decim places.) Specific Identification 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. (Round cost per unit places.) Specific Identification Available for Sale Cost of Goods Sold Purchase Date Activity Units Unit Cost Units Sold Unit Cost COGS Ending Inventory Ending Cost Ending Inventory Per Inventory Units Unit Cost 15 S 13.50 $ 203 Jan, 1 210 13.50 195 $13.50 Beginning inventory Purchase $ 2,633 Jan. 20 150 12.50 145 $ 12,50 $ 1,813 5 $ 12.50 $ 63 Jan. 30 Purchase 320 12.00 320 $ 12.00 $ 0 340 3,840 4,106 680 $ 4,446 340 $ (Required 1 Required 2 > Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 unit 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 Cost Cost Date W of Cost of units Cost of Goods units per per # of units Inventory sold per unit Sold unit Balance January 1 210 13.50 $2,835.00 January 160 - $2,160.00 50 10 13.50 $ 675.00 13.50 January 12.50 50 20 @ 13.50 $ 675.00 1,875.00 12.50 Average cost 200 @ $2,550,00 January $ 130 $1,625.00 20 @ 25 12.50 12.00 $ 240.00 January 320 20 $ 240.00 30 12.00 12.00 S 320 12.00 3,840.00 Totals $3,785.00 340 $4,080.00 150 150 . . Answer is not complete. 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 # of Cost # of units Cost Cost Cost of Goods Date per units Inventory per sold of units per Sold unit unit Balance unit January 1 210 13.50 2,835.00 January 10 January 20 January 25 January 30 Totals Answer is not complete. 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 Date Cost of Cost units Inventory per sold # of units unit Goods Sold unit Balance January 1 210 $13.50 2,835.00 January 10 January 20 per per unit January 25 January 30 Totals
