! 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. Units sold at Retail Units Acquired at Cost 160 units@ $8.50 = $1,360 120 units @ $17.50 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 100 units@ $7.50 = 750 120 units @ $17.50 220 units@ $7.00 = 480 units 1,540 $3,650 240 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 240 units, where 220 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. Required: 1. Complete the table to determine the costs assigned to ending inventory and to cost of goods sold using specific identification. 2. Determine the costs assigned to ending inventory and to cost of goods sold using weighted average. 3. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. 4. Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Complete the table to determine the costs assigned to ending inventory and to cost of goods sold using specific identification. Specific Identification Available for Sale Cost of Goods Sold Purchase Date Ending Inventory Ending Ending Cost Per Inventory- Unit Inventory- Units Cost Activity Unit Cost Units Units Sold Unit Cost COGS Jan. 1 160 Beginning inventory Purchase Purchase Jan. 20 Jan. 30 100 220 480 Required 1 Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Determine the costs 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 Inventory Balance Cost per Cost of Goods Sold # of units Cost of unit sold Goods Sold # of units Cost per unit Date Cost per # of units Inventory Balance unit January 1 160 @ $ 8.50 = $ 1,360.00 January 10 January 20 Average cost January 25 January 30 Totals Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. Perpetual LIFO: Goods Purchased # of Cost units Cost of Goods Sold # of units Cost Cost of Goods sold Sold Date per unit per unit Inventory Balance Cost # of units Inventory per unit Balance $ 160 @ $ 8.50 = 1,360.00 January 1 January 10 January 20 January 25 January 30 Totals