Laker Company reported the following January purchases and sales data for its only product. The Company uses a perpetual inventory system. Required: 1) Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. (Also click on the Weighted Average, FIFO, and LIFO Tabs below.) Date January 01 January 10 January 20 January 25 January 30 Activities Specific Identification Units available 215 units from beginning inventory 160 units purchased on January 20 355 units purchased on January 30 Units Acquired at Cost Cost per unit Totals Units Beginning inventory Sales Purchase Sales Purchase 355 Totals 730 For specific identification, ending inventory consists of the following units: Units from beginning inventory Units from purchase of January 20 Units from purchase of January 30 215 160 Units $14.00 0 $13.00 Total cost per unit $3,010.00 $11.00 $3,905.00 $8,995.00 Cost of Goods Sold Cost $14.00 $13.00 $11.00 $2,080.00 15 5 355 Total cost $0.00 Units Units Sold at Retail Selling price per unit 165 $23.00 190 $23.00 355 Units Total Sales 0 $3,795.00 $4,370.00 $8,165.00 Ending Inventory Cost per unit $14.00 $13.00 $11.00 Total Cost $0.00 Laker Company reported the following January purchases and sales data for its only product. The Company uses a perpetual inventory system. Required: 2. Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. Date January 01 January 10 January 20 January 25 January 30 Date January 01 January 10 January 20 January 25 January 30 Activities Beginning inventory Sales Purchase Sales Purchase Totals Weighted Average Activities Beginning inventory Sales Purchase Sales Purchase Totals Units Acquired at Cost Cost per unit 215 $14.00 Units 160 $13.00 355 730 Units 165 190 $11.00 355 Total cost $3,010.00 Cost of Goods Sold $2,080.00 $3,905.00 $8,995.00 Cost Cost of goods sold per unit $0.00 Units Units Sold at Retail Selling price per 165 $23.00 190 $23.00 355 Units 215 Total Sales unit $14.00 $3,795.00 $4,370.00 Inventory Balance Cost per Total Cost $8,165.00 $3,010.00