Laker Company reported the following January purchases and sales data for its only product Date Activities Jan. 1 Beginning inventory Jan. 19 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost Units sold at Retail 170 units @ $9.50 = $1,615 130 units @ $18.50 120 units @ $8.50 = 1,020 130 units @ $18.50 260 units @ $8.00 - 2,080 550 units $4,715 260 units Exercise 6-5A Periodic: Inventory costing LO P3 Required: The Company uses a periodic inventory system. For specific identification, ending inventory consists of 290 units, where 260 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory. Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (FIFO, and (c) LIFO. Complete this questions by entering your answers in the below tabs. Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using specific identification. For specific identification, ending inventory consists of 290 units, where 260 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory. a) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Cost of Goods # of units Cost per Cost per Available for # of units Cost of unit sold unit Goods Sold Sale Ending Inventory # of units Cost Ending in ending per unit Inventory inventory Beginning inventory Purchases Jan 20 Jan. 30 Total 0 0 0 $ 0 Weighted Average > Complete this questions by entering your answers in the below tabs. Specific id Weighted Average FIFO LIFO 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) Average Cost Cost of Goods Available for Sale Average Cost of Goods # of units Cost per Available for unit Sale Cost of Goods Sold Average # of units Cost of sold Cost per Unit Ending Inventory # of units Average Ending in ending Cost per Inventory Goods Sold inventory unit Beginning inventory Purchases Jan. 20 Jan 30 Total $ $ 0 Complete this questions by entering your answers in the below tabs. Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. c) FIFO Cost of Goods Sold Cost of Goods Available for Sale Cost of Goods # of units Available for unit Sale Cost per # of units Cost per sold unit Cost of Goods Sold Ending Inventory # of units Cost in ending Ending per unit Inventory inventory Beginning inventory Purchases Jan. 20 Jan. 30 $ 0 0 0 Total $ Complete this questions by entering your answers in the below tabs. N Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. d) LIFO Cost of Goods Available for Sale Cost of Goods Sold Cost of Goods # of units Cost per # of units Cost per Available for Cost of unit Sale sold unit Goods Sold Ending Inventory # of units Cost Ending in ending Inventory inventory per unit Beginning inventory Purchases Jan. 20 Jan. 30 Total 0 0 0 $ 0 $