! 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 perpetual inventory system. For specific identification, ending inventory consists of 180 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Date January 1 January 10 Activities Beginning inventory Sales January 20 January 25 January 30 Purchase Sales Purchase Totals 140 units 60 units Units Acquired at Cost @ $ 6.00 = @ $ 5.00 = $ 840 100 units Units sold at Retail @ $ 15 300 80 units @ $ 15 180 units 380 units @ $ 4.50 = 810 $ 1,950 180 units The Company uses a periodic inventory system. For specific identification, ending inventory consists of 180 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. 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 180 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. a) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Cost per unit Cost of Goods # of units Cost per Available for sold unit Cost of Goods Sold Sale # of units in ending inventory Cost Ending per unit Inventory Beginning inventory 140 $ 6.00 $ 840 125 $ 6.00 $ 750 15 $ 6.00 $ 90 Purchases: January 20 60 $ 5.00 300 55 $ 5.00 275 5 $ 5.00 25 January 30 180 $ 4.50 810 0 180 $ 4.50 810 Total 380 $ 1,950 180 $ 1,025 200 $ 925 Specific Id Weighted Average >