! 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 228 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 43 are from beginning inventory. Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Units Acquired at Cost Units sold at Retail 154 units @ $6.00 = $ 924 86 units @ $15.00 74 units @ $5.00 = 370 94 units @ $15.00 180 units @ $4.50 = 810 408 units $2,104 180 units Totals 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 228 units, w are from the January 30 purchase, 5 are from the January 20 purchase, and 43 are from beginning inventory. a) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Cost per Cost per Cost of Goods Available for Sale # of units # of units sold Cost per unit Ending Inventory # of units in Ending ending unit Inventory inventory Cost of Goods Sold unit Beginning inventory 154 $ 6.00 $ 924 154 $ 6.00 $ 924 Purchases: Jan. 20 74 $ 5.00 370 Jan. 30 180 $ 4.50 810 Total 408 $ 2,104 154 924 0 0 Specific Id 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.) b) Weighted average - Periodic Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Average Cost Average Cost of Goods Available for Sale # of units # of units sold Cost of Goods Sold Average Cost Cost per # of units in ending inventory Ending Inventory per unit Unit per unit Beginning inventory 154 924 Purchases: Jan. 20 74 370 Jan. 30 180 810 Total 408 $ 2,104 $ 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 FIFO. c) Periodic FIFO Cost of Goods Available for Sale Cost of Goods Sold Cost per unit # of units Cost of Goods Available for Sale # of units sold Cost per unit Ending Inventory # of units in Cost per ending unit inventory Cost of Goods Sold Ending Inventory Beginning inventory 154 6.00 $ 924 Purchases: Jan. 20 74 5.00 370 Jan. 30 180 4.50 810 Total 408 $ 2,104 0 $ 0 0 0 Weighted Average 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 LIFO. d) Periodic LIFO Cost of Goods Available for Sale Cost of Goods Sold Cost per unit # of units Cost of Goods Available for Sale # of units sold Cost per unit Ending Inventory # of units in Cost per ending unit inventory Cost of Goods Sold Ending Inventory Beginning inventory 154 6.00 $ 924 Purchases: Jan. 20 74 5.00 370 Jan. 30 180 4.50 810 Total 408 $ 2,104 0 $ 0 0 0 FIFO LIFO