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 200 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory Units sold at Date Activities Units Acquired at Cost Retail Jan. 1 Beginning inventory 140 units @ $6.00 - $ 840 Jan. 10 Sales 100 units & $15 Jan. 20 Purchase 60 units e $5.00 - 300 Jan. 25 Sales B0 unitse $15 Jan. 30 Purchase 180 units @ $4.50 - 810 Totals 380 units $1,950 180 units Exercise 5-3 (Static) Periodic: Inventory costing methods LO P1 Required: Determine the cost assigned to ending inventory and to cost of goods sold using (specific identification. () weighted average (o FIFO, and (LIFO Complete this question by entering your answers in the tabs below. 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 200 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. Complete this question by entering your answers in the tabs below. Weighted Specific id Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using specific identification. For specific identification, ending invento 200 units, where 180 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 of Goods # of units Cost per Available for # of units Cost per Cost of # of units Cost Ending unit sold unit Sale in ending Goods Sold per unit Inventory Inventory Beginning inventory 140 $ 6.00 $ 840 125 S 6.00 $ 750 15 $ 6.00 $ 90 Purchases Jan. 20 60 $ 5.00 300 55 $ 5.00 275 5 $ 5.00 25 Jan. 30 180 $ 4.50 0 180 $ 4.50 810 Total 380 $ 1.950 180 $ 1.025 200 $ 925 810 Spellid Weighted Average > Required information Complete this question by entering your answers in the tabs below. Specific to Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal places.) b) Weighted average - Periodic Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Average Cost of Goods Average # of units Cost per Available for of units of units Average Cost of Cost per Ending in ending unit sold Cost Salo Goods Sold Unit inventory per unit Inventory Beginning inventory 140 840 Purchases: Jan 20 60 300 Jan. 30 180 810 Total 380 $ 4.500 5 1.950 $ 104,500 1.025.00 200 $ 4.59 $ 918 180 Required information Complete this question by entering your answers in the tabs below. Specific id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. c) Periodic FIFO Cost of Goods Available for Sale Cost of Goods Sold Cost of Goods Cost per Cost of of units of units Cost per Available for unit Sale sold unit Goods Sold Beginning inventory 140 0.00 $ 840 6 s 6.00 $ 36 Purchases Jan. 20 60 5.00 300 51 5.00 Jan. 30 180 4.50 810 5 s 4.50 23 Total 380 $ 1.950 16 $ 84 Ending Inventory N of units Cost Ending in ending Inventory per unit Inventory 140 S 6.00 5 340 251 401 $ 5.00 20 $ 4.50 200 200 90 S 1,130 ing your ers in the tabs below. Specific id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. d) Periodic LFO Cost of Goods Available for Sale Cost of Goods Sold Cost per Cost of Goods of units # of units Cost per Available for Cost of unit sold Salo unit Goods Sold Beginning inventory 140 6.00 $ 840 149 $ 6.00 $ B94 Purchases Jan 20 60 5.00 300 60 $ 5.00 300 Jan 30 180 4.50 810 180 $ 4.50 810 Total 380 5 1.950 389 $ Ending Inventory of units in ending Cost Ending Inventory per unit Inventory 1400 $ 6.00 $ 840 300 60 $ 5.00 200 $ 4,50 400 2,004 900 2,040 $ FIFO LIO