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Required Information [The following information applies to the questions displayed below.] Laker Company reported the following January purchases and sales data for its only product. Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 225 units @ $15.00 - $ 3,375 Jan. 10 Sales 175 units @ $24.ee Jan. 20 Purchase 180 units @ $14.00 = 2,520 Jan. 25 Sales 218 units @ $24.00 Jan. 30 Purchase 350 units @ $13.50 = 4,725 Totals 755 units $10,620 385 units The Company uses a perpetual Inventory system. For specific identification, ending Inventory consists of 370 units, where 350 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 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. Specific Identification Available for Sale Cost of Goods Sold Ending Inventory Ending Cost Per Ending Inventory Inventory- Unit Units Cost Purchase Date Activity Units Units Sold Unit Cost Unit Cost COGS Jan. 1 Jan. 20 Beginning inventory Purchase Purchase 225 180 $15.00 $ 14.00 Jan. 30 350 $13.50 755 0 $ 0 0 $ 0 Required 1 Required 2 > Weighted Average - Perpetual: Goods Purchased Cost of Goods Sold Inventory Balance Date # of units Cost per Cost per Cost of Goods Sold # of units sold # of units Cost per unit Inventory Balance unit unit January 1 2251 $ 15.00 = $3.375.00 January 10 January 20 Average cost January 25 January 30 Totals