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 225 units@ $15.00 - $ 3,375 175 units @ $24.00 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 180 units@ $14.00 = 2,520 210 units @ $24.00 350 units@ $13.50 = 755 units 4,725 $10,620 385 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 370 units, where 350 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. Available for Sale Cost of Goods Sold Purchase Date Ending Inventory Ending Inventory- Cost Unit Cost Activity Ending Inventory Units Sold Units Unit Cost COGS Cost Per Unit Units Beginning inventory 225 Jan. 1 Jan. 20 Purchase 180 _ Jan. 30 Purchase 350 755 0 $ 0 $ 0 Required 1 Required 2 > Cost of Goods Sold Inventory Balance Weighted Average - Perpetual: Goods Purchased # of Cost per Date units unit # of units sold Cost per Cost of Goods unit Sold # of units Cost per unit Inventory Balance January 1 225 @ $ 15.00 = $ 3,375.00 January 10 January 20 Average cost January 25 January 30 Totals 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 1 225 @ $ 15.00 = $ 3,375.00 January 10 January 20 January 25 January 30 Totals Perpetual LIFO: Goods Sold of Goods Goods Purchased # of Cost per units unit Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Date Inventory Balance # of units Cost per Co Inventory Balance 225 @ $ 15.00 = $ 3,375.00 unit January 1 January 10 January 20 January 25 January 30 Totals