Laker Company reported the following January purchases and sales data for its only product Units sold at Retail 150 units @ $16.00 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost 190 units @ $7.00 = $1,330 110 units@ $6.00 - 660 280 units @ $5.50 - 1,540 580 units $3,530 130 units @ $16.00 280 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 300 units, where 280 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 spec 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. quired 1 Required 2 Required 3 Required 4 nplete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. (RC des. ific Identification Available for Sale Cost of Goods Sold hase Date Activity Units Unit Cost Units Sold Unit Cost COGS 1750 $ 7.00 $ 1,225 1 20 Beginning inventory Purchase Ending Inventory Ending Cost Per Ending Inventory Unit Inventory Units Cost 15$ 7.00 $ 105 5 s 6.00 $ 30 280 $ 5.50 $ 1.540 300 $ 1,675 105 $ 6.00 $ 1907 $ 700 110 $ 6.00 280 $ 5.50 580 630 30 Purchase 0 280 $ 1.855 K Regula Required 2 > Weighted Average - Perpetual: Goods Purchased Cost of Goods Sold # of Inventory Balance # of units Inventory unit Balance Cost per # of Date Cost per unit units Cost per Cost of Goods unit Sold units sold 190 @ $ 7.00 $ 1,330.00 January 1 January 10 January 20 nces Average cost January 25 January 30 Totals Check my work Required information Goods Purchased Cost per Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Cost per Date # of units Inventory Balance Inventory # of units unit Balance 190 @ $ 7.00 = $ 1,330.0 unit January 1 January 10 January 20 January 25 January 30 Totals Check my work Required information Goods Purchased # of units unit Cost per Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Cost per Date Inventory Balance Inventory # of units unit Balance 190 @ $ 700 = $ 1,330.00 January 1 401 @ January 10 January 20 40 January 25 January 30 Totals Perpetual LIFO: Goods Purchased # of units unit Date Cost per Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Inventory Bal # of units Cost per unit January 1 190 @ A 7.00 January 10 January 20 40 @ 40 January 25 January 30 Totals