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 ActivitiesUnits Acquired at cost Units sold at Retail Dan. 1 Beginning Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase 225 units@ $15.00 3,375 180 units@$14.002,520 350 units@ $13.5 4,725 175 units $24.00 210 units@$24.00 Totals 755 units $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 Complete this questions by entering your answers in the below tabs. Required 1 Required 2 Required 3 Required 4 Prev of Next > Required 1Required 2 Required 3 Required 4 Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. Specific Identification Ending Inventory Ending Cost Per Inventory- Available for Sale Cost of Goods Sold Ending Activity Units CostSold Unit Units Unit Cost CoGS Inventory- Unit Purchase Date Units Jan 1 Jan. 20 Jan 30 Beginning inventory 225 180 350 755 Required 2 Required 1 Required 2 Required 3 Required 4 ng inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal places) Weighted Average-Perpetual Cost of Goods Sold alance # of Sold | #Of units cost per: Inventory Balance #of units Costper 1 units Cost of Goods | Cost per Date #Of units unit unit sold 225 1500 $3,37500 January 1 January 10 January 20 Average cost January 25 January 30 Totals Co Required1 Required 2Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO Cost of Goods Sold Cost per | # of units sold #Of units Costperi Inventory unit Date #of Cost per Cost of Goods unit Sold Ba January 1 January 10 January 20 225$15003,375.00 January 25 January 30 Totals Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using uro. Perpetual LIFO Inventory Balance Goods Purchased #of units Cost of Goods. Sold Cost per| unit #0f units sold cost per cost of Goods Costper | Inventory | #0f units Date unit Sold unit 225 1500$3,375 00 January 1 January 10 January 20 January 25 January 30 Totals
