Laker Company reported the following January purchases and sales data for its only product. The Company uses a periodic inventory system. For specific identification, ending inventory consists of 390 units, where 370 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. Units Acquired at Cost Units sold at Retail 220 units @ $14.50 = $ 3,190 Date Activities Beginning Jan. 1 inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase 170 units @ $23.50 170 units @ $13.50 = 2,295 200 units @ $23.50 370 units @ $13.00 = 760 units 4,810 $10,295 Totals 370 units Exercise 5-5A Periodic: Inventory costing LO P3 Required: Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c) FIFO, and (d) LIFO. Required: Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c) FIFO, and (d) 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 390 units, where 370 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. a) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost per Cost # of units Cost of Goods Available for Sale # of units sold Cost per unit Cost of Goods Sold # of units in ending inventory Ending Inventory unit per unit Beginning inventory 220 $ 14.50 $ 3,190 Purchases: Jan. 20 170 $ 13.50 2,295 Jan. 30 370 $ 13.00 4,810 Total 760 $ 10,295 0 $ 0 0 $ 0 Specific Id Weighted Average