Laker Company reported the following January purchases and sales data for its my product. The company periodic inventory system. For specific identification, ending inventory consists of 202 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 17 are from beginning inventory. Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost 141 units @ $6.00 $ 846 61 units $5.00- Units sold at Retail 99 units @ $15.00 305 81 units @ $15.00 180 units @ $4.50 = 382 units ste. $1,961 180 units Required: Determine the cost assigned to ending inventoly and to cost of goods sold using (a) specific identification; (b) weighted average. (c) FIFO, and (d) LIFO Complete this question by entering your answers in the tabs below. 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) Weighted average - Periodic Cost of Goods Available for Sale) Cost of Goods Sold Ending Inventory Specific Id Weighted FIFO Average LIFO Determine the cost assigned to ending inventory and to cost of goods sold using specific identification. For specific identification, ending Inventory consists o are from the January 30 purchase, 5 are from the January 20 purchase, and 17 are from beginning Inventory. Specific Identification Cost of Goods Available for Sale Beginning inventory Purchases: Jan. 20 Jan. 30 Total Cost of Goods Sold. Ending Inventory #of units Cost per unit Cost of Goods Available for # of units Cost per unit Cost of Goods # of units sold Sold in ending inventory Cost per unit Ending Inventory Sale 141 $6.00 $ 846 382 $ 6.00 2,292 846 $ 6.00 S 5,076 61 $ 5.00 305 99 $ 5.00 495 305 $ 5.00 1,525 1805 4.50 8101 81 S 4.50 365 810 $ 4.50 3,645 382 $ 1,961 562 $ 3,152 1,961 $ 10,246 Specific d Weighted Average > Specific Id Weighted Average FIFO LIFO b) Weighted average Periodic Determine the cost assigned to ending Inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal places.) Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory #of units Average Cost per unit Cost of Goods Available for Sale # of units sold. Average Cost per Unit Cost of Goods # of units in Sold ending inventory Average Cost per unit Ending Inventory Beginning Inventory Purchases Jan 20 Jan. 30 141 8146 61 305 100 810 Total 382 S 1,961 Specific Id Weighted Average FIFO LIFO c) Periodic FIFO Determine the cost assigned to ending Inventory and to cost of goods sold using FIFO. Cost of Goods Available for Sale Cost of Goods Sold Cost Cost of Goods # of # of units per Available for units Cost per unit unit Sale sold Cost of Goods Sold: # of units in Ending Inventory Cost Ending ending Inventory per unit Inventory Beginning inventory 141 6.00 $ 846 Purchases: Jan. 201 61 5.00 305 Jan. 301 180 4.50 810 Total 382 1,901 < Weighted Average 0 LIFO > 0 Specific Id Weighted Average FIFO LIFO dj Periodic LIFO Determine the cost assigned to ending Inventory and to cost of goods sold using LIFO. Cost of Goods Available for Sale Cost of Goods Sold: # of units Cost per unit Cost of Goods Available for of units sold Cost per Cost of Goods unit Sold Sale Beginning inventory 141 6.00 5 846 Purchases Jan 20 61 5.00 305 Jan. 30 180 4.50 810 Total. 382 $ 1,961 0 # of units in ending inventory Ending Inventory Cost per Ending Inventory unit 0 0 0 < FIFO LIFO >>