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 Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 140 units @ $6.00 = $ 840 Jan. 10 Sales 100 units @ $15 Jan. 20 Purchase 60 units @ $5.00 300 Jan. 25 Sales 80 units @ $15 Jan. 30 Purchase 180 units @ $4.50 810 Totals 380 units $1,950 180 units The Company uses a perpetual 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 Required: 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. Required 1 Required 2 Required 3 Required 4 1 of 4 Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending Inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decim Weighted Average - Perpetual: Goods Purchased Cost of Goods Sold Book Inventory Balance Cost per Inventory # of units unit Balance # of units Cost per Date # of units sold Cost per Cost of Goods unit Sold unit 140 @ $ 6.00 = $ 840.00 ences January 1 January 10 January 20 100 $ 6.00 $ 600.00 401 60 $ 5.00 40 @ 60 @ $5.00 = 100 300.00 $ 300.00 Average cost January 25 January 30 80 18010 $ 4.50 180 @ $ 4.50 180 810.00 Totals $ 800.00 Required information Perpetual FIFO: Goods Purchased # of Cost per units unit Cost of Goods Sold # of units Cost per Cost of Goods sold Sold Cost per Date unit Inventory Balance Inventory #of units unit Balance 140 $ 6.00 - $ 840.00 January 1 January 10 100 $ 6.00 = $ 600.00 $ 240,00 January 20 60 @ $ 5.00 40 @ $ 6.00 = @ $ 6.00 @ $ 5.00 January 25 40 40 January 30 18010 $4.50 $ 4.50 Totals Perpetual LIFO: Goods Purchased # of units unit Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Date Cost per Inventory Balance Cost per Inventory # of units unit Balance January 1 140 @ $ 6.00 - $840.00 January 10 January 20 January 25 January 30 Totals