! 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. The Company uses a periodic inventory system. For specific identification, ending inventory consists of 220 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 35 are from beginning inventory. Date January 1 January 10 January 20 Activities Beginning inventory Sales January 25 Purchase Sales January 30 Purchase Totals Units Acquired at Cost 150 units $ 6.00 = 70 units @ $ 5.00 - 180 units @ 400 units Units sold at Retail $ 900 90 units @ $ 15.00 350 90 units @ $ 15.00 $ 4.50 810 $ 2,060 180 units Required: Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c) FIFO, and (d) LIFO. 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 specific identification. For specific identification, ending inventory consists of 220 units, w are from the January 30 purchase, 5 are from the January 20 purchase, and 35 are from beginning inventory. a) Specific Identification # of units unit Cost of Goods Available for Sale Cost per Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units sold unit Cost per Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory Beginning inventory Purchases: January 20 January 30 Total 0 $ 0 $ 0 < Specific Id Weighted Average > $ 0 Complete this question by entering your answers in the tabs below. Weighted Average Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. Note: Round cost per unit to 2 decimal places. b) Weighted average - Periodic Cost of Goods Sold Beginning inventory Purchases: January 20 January 30 Total Cost of Goods Available for Sale # of units Average Cost per unit Cost of Goods Available for Sale # of units sold Average Cost per Unit # of units in Cost of Goods Sold ending inventory 0 $ 0 < Specific Id Ending Inventory Average Cost per unit Ending Inventory $ 0 $ 0 FIFO > Complete this question by entering your answers in the tabs below. Specific Id Weighted Average FIFO LIFO c) Periodic FIFO Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units in # of units Cost per unit Cost of Goods Available for Sale # of units sold Cost per unit Cost of Goods Sold Cost per ending inventory unit Ending Inventory Beginning inventory Purchases: January 20 January 30 Total 0 $ 0 $ 0 < Weighted Average LIFO > 0 $ 0 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. d) Periodic LIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Cost per unit Cost of Goods Available for Sale # of units in # of units sold Cost per unit Cost of Goods Sold ending inventory Cost per unit Ending Inventory Beginning inventory Purchases: January 20 January 30 Total 0 $ 0 < FIFO 0 LIFO > 0 0 0