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 180 units from the January 30 purchase, 5 units from the Specific Identification Data January 20 purchase, and 15 units from beginning inventory. 180 5 15 2 7 Date 1-Jan 10-Jan 20-Jan 25-Jan 30-Jan Activities Beginning inventory Sales Purchase Sales Purchase 140 units 60 units 180 units 380 units Units Acquired at Cost e $6.00 @ 0 $5.00 $4.50 W 5840 300 810 $1.950 Units sold at Retail 100 units 80 units 180 units e $15 $15 19 20 21 Purchase Date 22 23 1-Jan 20-Jan 30-Jan Available for Sale Activity Beginning inventory Purchase Purchase # of units 140 60 180 380 Specific Identification Cost of Goods Sold Cost Per # of units Cost Per Unit sold Unit $6.00 $5.00 $4.50 $6.00 $5.00 $4.50 COGS 24 25 26 27 2. Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. 28 Ending Inventory Ending Inventory- Units Cost Per Unit $6.00 $5.00 $4.50 Ending Inventory- Cost