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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. Units Acquired at Cost 200 units @ $12.50 = $2,500 Units sold at Retail 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 - 630 units 3,300 $ 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 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. Required 1 Required 2 Required 3 Required 4 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 Available for Sale Cost of Goods Sold Ending Inventory Ending Unit Units Cost Per Ending Purchase Date Activity Units Cost Unit Cost Sold Inventory COGS Inventory- Unit Units Cost Jan. 1 Beginning inventory 200 $ 12.50 1 75 $ 12.50 $ 2,188 25 $ 12.50 $ 313 Jan. 20 Purchase 130 $ 11.50 125 $ 11.50 $ 1,438 5 $ 11.50 $ 58 Jan. 30 Purchase 300 $ 11. 000 300 $ 11.00 $ 3,300 630 L 300 $ 3,626 330 $ 3,671 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 Cost per Cost of Goods unit Sold # of units Date Inventory Balance # of units Cost per Inventory unit Balance # of units sold Cost per unit $ 12.50 = $ 2,500.00 January 1 January 10 January 20 160 @ 1 130 @ $ 11.50 $ 11.50 = 200 @ 40 @ 40 @ 130 @ 170 @ 30 @ 30 @ 300 @ 330 @ 1,495.00 1,495.00 Average cost $ January 25 140 @i January 30 300 @ $ 11.00 $ 11.00 = 3,300.00 Totals 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 Date # of units Cost per unit # of units sold Cost per Cost of Goods unit Sold # of units Cost per unit Inventory Balance January 1 200 @ $ 12.50 = $ 2,500.00 January 10 January 20 | January 25 January 30 nuary 30 Totals 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 Cost per units unit Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Date Inventory Balance # of units Cost per Inventory unit Balance 200 @ $ 12.50 = $ 2,500.00 January 1 January 10 January 20 January 25 January 30 Totals