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[The following information applies to the questions displayed below.) Laker Company reported the following January purchases and sales data for its only product. The Company uses a perpetual Inventory system. For specific identification, ending inventory consists of 280 units from the January 30 purchase. 5 units from the January 20 purchase, and 15 units from beginning inventory. Date Activities Units Acquired at Cost Units sold at Retail January 1 Beginning inventory 190 units $ 7.00 - $ 1,330 January 10 Sales 150 units $ 16.00 January 20 Purchase 110 units $ 6.00 = January 25 Sales 130 units $ 16.00 January 30 Purchase 280 units $ 5.50 = 1,540 Totals 580 units $ 3,530 280 units 560 Exercise 6-3 (Algo) Perpetual: Inventory costing methods LO P1 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. 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 UFO. Complete this question by entering your answers in the tabs below. Specific Id Weighted FIFO LIFO Average Complete the table to determine the cost assigned to ending Inventory and cost of goods sold using specific identification. Specific identification Available for Sale Cost of Goods Sold Ending Inventory Ending Purchase Date Cost Per Activity # of units COGS Inventory Ending Cost Por Unit Inventory Coat # of units Cost Per Unit Unit sold Units January 1 January 20 January 30 Beginning inventory Purchase Purchase 190 110 280 580 0 $ 0 0 5 Weighted Average > 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 weighted average (Round cost per unit to 2 decimal places) Goods Purchased Weighted Average Perpetual: Cost of Goods Sold Inventory Balance Date Cost per # of units # of units sold Cost per Cost of Goods Sold # of units Cost per unit Inventory Balance unit unit January 1 190 at 5 7.00 S 1 330.00 January 10 January 20 Average cost January 20 January 25 January 30 Totals Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO Goods Purchased Cost of Goods Sold Inventory Balance Date Cost per # of units Cost of Goods Cost per # of units unit sold # of units unit Sold unit Inventory Balance January 1 190 at $ 700 = $ 1.330 00 Cost per January 10 January 20 Total January 20 January 25 Total January 25 January 30 Totals Goods Purchased Cost per # of units unit Date Perpetual LIFO: Cost of Goods Sold #of units Cost per Cost of Goods sold unit Sold Inventory Balance Cost per # of units unit Inventory Balance January 1 190 at $ 700 = S 1,330 00 January 10 January 20 Total January 20 January 25 Total January 25 January 30 Totals