Laker Company reported the following January purchases and sales data for its only product. Units sold at Retail Units Acquired at Cost 155 units @ $8.00 = $1,240 115 units @ $17.00 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 90 units @ $7.00 630 95 units @ $17.00 210 units @ $6.50 = 455 units 1,365 $3,235 210 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 245 units, where 210 are from the January 30 purchase, 5 are from the January 20 purchase, and 30 are from beginning inventory. Required: 1. Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific 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. Complete this question by entering your answers in the tabs below. W Required 3 Required 4 Required 1 Required 2 Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. (Round cost per unit to 2 decimal places.) Specific Identification Cost of Goods Sold Available for Sale Ending Inventory Ending Ending Cost Per Inventory- Inventory- Unit Units Cost COGS Units Unit Cost Units Sold Unit Cost Activity Purchase Date 155 Jan. 1 Beginning inventory Purchase 90 Jan. 20 210 Jan. 30 Purchase 455 Required 2 > Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal places.) Weighted Average - Perpetual: Goods Purchased Cost of Goods Sold Inventory Balance Cost per Cost per # of units # of units sold Date Cost of Goods Sold Cost per unit # of units Inventory Balance unit unit 155 @ $ 8.00 = $ 1,240.00 January 1 January 10 January 20 Average cost January 25 January 30 Totals Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. (Round cost per unit to 2 decimal places.) Perpetual FIFO: Goods Purchased Cost of Goods Sold Inventory Balance Cost per Cost per # of units # of units sold Cost of Goods Sold # of units Date Cost per unit Inventory Balance unit unit 155 @ $ 8.00 = $ 1240 00 January 1 January 10 January 20 January 25 January 30 Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. (Round cost per unit to 2 decimal places.) Perpetual LIFO: Goods Purchased # of units unit Cost per Cost of Goods Sold # of units Cost of Goods sold unit Sold Cost per Inventory Balance Inventory # of units unit Balance Cost per Date 155 $ 8.00 = $ 1,240.00 January 1 January 10 January 20 January 25 January 30 Totals