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 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost Units sold at Retail 140 units @ $6.00 -5 340 100 units $15 60 units @ $5.00 - 300 80 units 515 180 units $4.50 Ble 380 units $1,950 180 units Required: 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 Determine the cost assigned to ending inventory and to cost of goods sold using a specific identification. (b) weighted average, FIFO, and (d) LIFO. Complete this question by entering your answers in the tabs below. Required information 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 200 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. a) Specific Identification Cost of Goods Sold Cost of Goods Available for Sale Cost of Goods # of units unit Sale Cost per Available for # of units Cost per sold Cost of Goods Sold Ending Inventory of units Cost in ending Ending inventory per unit Inventory Beginning inventory Purchases Jan 20 Jan 30 Total Teighted Average > Required information LIFO Specific id Weighted FIFO Average 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) Average Cost Cost of Goods Available for Sale Cost of Goods Sold Average Cost of Goods Average # of units Cost of # of units Cost per Available for Cost per sold unit Sale Unit Goods Sold Ending Inventory # of units Average in ending Cost Ending Inventory inventory per unit Beginning inventory Purchases Jan 20 Jan 30 Total Required information Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. c) FIFO Cost of Goods Sold Cost of Goods Available for Sale Cost Cost of Goods # of units per unit Available for Sale Ending Inventory # of units Cost Ending in ending per unit Inventory inventory # of units Cost per sold Cost of Goods Sold unit Beginning inventory Purchases Jan 20 Jan 30 Total S Required information Specific Id Weighted Average FIFO 4150 Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. d) LIFO Cost of Goods Available for Sale Cost of Goods # of units Available for unit Sale Cost per Cost of Goods Sold # of units Cost per Cost of sold unit Goods Sold Ending Inventory # of units Cost Ending in ending Inventory Inventory per unit Beginning inventory Purchases Jan. 20 Jan 30 Total 0 $ FIFO