! 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 200 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. Units sold at Retail Units Acquired at Cost 140 units @ $6.00 = $ 840 100 units @ $ 15 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase 60 units @ $5.00 = 300 80 units @ $ 15 810 180 units @ $4.50 = 380 units Totals $1,950 180 units 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 Available for Sale Purchase Date Cost of Goods Sold # of Cost Per units COGS Unit sold # of units Activity Cost Per Unit Ending Inventory Ending Ending Cost Per Inventory- Inventory- Unit Units Cost 15 $ 6.00 $ 90 Jan. 1 140 $ 6.00 125 6.00 $ 750 Beginning inventory Purchase Jan. 20 60 55 $ 5.00 275 5 $ 5.00 25 $ 5.00 $ 4.50 Jan. 30 Purchase 180 180 $ 4.50 810 380 180 $ 1,025 200 $ 925 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: Goods Purchased Cost of Goods Sold Inventory Balance Date # of units Cost per unit # of units sold Cost per Cost of Goods unit Sold # of units Cost per unit Inventory Balance 140 @ $ 6.00 = $ 840.00 January 1 January 10 January 20 60 @ $ 5.00 @ 60 @ 5.00 = 300.00 $ 300.00 Average cost 60 @ January 25 January 30 180 @ $ 4.50 $ 4.50 = 810.00 180 @ 180 @ Totals Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO: Goods Purchased # of Cost per units unit Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Inventory Balance Cost per Inventory # of units unit Balance Date January 1 140 @ $ 6.00 = $ 840.00 January 10 January 20 60 @ $ 5.00 @ $ 5.00 January 25 January 30 180 @ $ 4.50 @ $ 4.50 Totals Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. Perpetual LIFO: Goods Purchased # of Cost per units unit Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Inventory Balance Cost per Inventory # of units unit Balance Date January 1 140 @ $ 6.00 = $ 840.00 January 10 January 20 60 @ $ 5.00 @ $ 5.00 January 25 January 30 180 @ $ 4.50 @ $ 4.50 Totals