Laker Company reported the following January purchases and sales data for its only product. Units Acquired at Cost 185 units@ $11.00 = $2,035 Units sold at Retail 145 units @ $20.00 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 100 units@ $10.00 = 1,000 125 units @ $20.00 270 units @ $ 9.50 = 555 units 2,565 $5,600 270 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 285 units, where 270 are from the January 30 purchase, 5 are from the January 20 purchase, and 10 are from beginning inventory. Weighted Average - Perpetual: Goods Purchased Cost of Goods Sold Inventory Balance # of Date # of units Cost per unit units sold Cost per cost of Goods unit Sold # of units Cost per unit Inventory Balance 185 @ $ 11.00 = $2,035.00 January 1 January 10 January 20 Average cost January 25 January 30 Totals I Perpetual FIFO: Goods Purchased Cost of Goods Sold # of Cost per # of units Cost per cost of Goods units unit sold unit Sold Date Inventory Balance # of units Cost per Inventory unit Balance 185 @ $ 11.00 2,035.00 $ January 1 January 10 January 20 January 25 January 30 Totals Perpetual LIFO: Goods Purchased # of Cost per units unit Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Inventory Balance # of units Cost per Inventory unit Balance Date $ January 1 185 @ $ 11.00 = 2,035.00 January 10 January 20 January 25 January 30 Totals