Laker Company reported the following January purchases and sales data for its only product. Units sold at Retail Units Acquired at Cost 200 units@ $12.50 = $2,500 160 units @ $21.50 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 130 units@ $11.50 = 1,495 140 units @ $21.50 300 units@ $11.00 = 3,300 630 units $7,295 300 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 330 units, where 300 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory. Required: 1. Complete the table to determine the costs assigned to ending inventory and to cost of goods sold using specific identification. 2. Determine the costs assigned to ending inventory and to cost of goods sold using weighted average. 3. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. 4. Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Complete the table to determine the costs assigned to ending inventory and to cost of goods sold using specific identification. Specific Identification Available for Sale Cost of Goods Sold Purchase Date Ending Inventory Ending Ending Cost Per Inventory- Inventory- Unit Units Cost Activity Unit Cost Units Units Sold Unit Cost COGS Jan. 1 200 Jan. 20 Beginning inventory Purchase Purchase 130 300 Jan. 30 630 0 $ 0 0 $ 0 Required 1 Required 2 Required 3 Required 4 Determine the costs assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to decimal places.) Weighted Average - Perpetual: Goods Purchased Inventory Balance Cost per Cost of Goods Sold # of units Cost of unit sold Goods Sold Cost per Cost per # of units Date # of units Inventory Balance unit unit January 1 200 @ $ 12.50 = $ 2,500.00 January 10 January 20 Average cost January 25 January 30 Totals Required 1 Required 2 Required 3 Required 4 Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO: Goods Purchased Cost of Goods Sold Inventory Balance Cost Date # of units Cost per unit # of units sold Cost of Goods Sold # of units per unit Cost Inventory per unit Balance $ $ 12.50 = 2,500.00 January 1 200 @ January 10 January 20 January 25 January 30 Totals Required 1 Required 2 Required 3 Required 4 Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. Perpetual LIFO: Goods Purchased # of Cost units Cost of Goods Sold # of units Cost Cost of Goods sold Sold Date per unit per unit Inventory Balance Cost # of units Inventory per unit Balance $ 200 @ $ 12.50 = 2,500.00 January 1 January 10 January 20 January 25 January 30 Totals