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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 310 units from the January 30 purchase, 5 units from the January 20 purchase, and 30 units from beginning inventory.

Date	Activities	Units Acquired at Cost						Units sold at Retail
January 1	Beginning inventory	205	units	@	$ 13.00	=	$ 2,665
January 10	Sales							165	units	@	$ 22.00
January 20	Purchase	140	units	@	$ 12.00	=	1,680
January 25	Sales							145	units	@	$ 22.00
January 30	Purchase	310	units	@	$ 11.50	=	3,565
	Totals	655	units				$ 7,910	310	units

rev: 10_06_2020_QC_CS-232448

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. Specific Id Weighted Average FIFO LIFO Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. Specific Identification Cost of Goods Sold Available for Sale Ending Inventory Purchase Date # of units Activity Cost Per Unit # of units sold Ending Cost Per Unit COGS Ending Inventory- Units Cost Per Unit Inventory-Cost 205 $ $ 13.00 13.00 $ S 30 $ 390 January 1 January 20 January 30 Beginning inventory Purchase 175 $ $ 1350 $ $ 2,275 1,620 13.00 $ 12.00 140 12.00 5 $ 60 $ 12.00 $ 11.50 Purchase 0 $ 11.50 310 655 3101 345 3,565 4,015 310 S 3,895 $ 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.) Weighted Average - Perpetual: Cost of Goods Sold Goods Purchased Inventory Balance Date # of units Cost per unit # of units sold Cost per unit Cost of Goods Sold # of units Cost per unit Inventory Balance January 1 205 at s 13.00 = $ 2,665.00 January 10 January 20 Average cost January 20 January 25 January 30 Totals 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. Perpetual FIFO: Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Inventory Balance Goods Purchased Cost per # of units unit Date # of units Cost per Inventory Balance unit $ 13.00 = January 1 205 at S 2,665.00 January 10 January 20 Total January 20 January 25 Total January 25 January 30 Totals 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 LIFO. Perpetual LIFO: Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Goods Purchased Cost per # of units unit Date Inventory Balance Cost per unit Inventory Balance # of units January 1 205 at $ 13.00 = $ 2,665.00 January 10 January 20 Total January 20 January 25 Total January 25 January 30 Totals