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 190 units @ $7.00 - $1,330 150 units @ $16.ee Date Activities Jan. 1 Beginning inventory Jan. 18 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 110 units @ $6.00 = 660 130 units @ $16.80 280 units @ $5.50 580 units 1,540 $3,530 280 units Required: The Company uses a periodic Inventory system. For specific Identification, ending Inventory consists of 300 units, where 280 are from he 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 (C) LIFO. Complete this question by entering your answers in the tabs below. 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 of 300 units, where 280 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 Available for Sale Cost of Goods Sold Ending Inventory # of units Cost of Goods Cost per unit Available for Sale # of units Cost per sold unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory Beginning inventory Purchases: Jan. 20 Jan. 30 Total s 0 $ S 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 Acquired at Cost 190 units @ $7.80 = $1,330 Units sold at Retail 150 units @ $16.80 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 110 units @ $6.00 = 660 130 units @ $16.80 280 units @ $5.50 1,540 580 units $3,530 280 units Required: The Company uses a periodic Inventory system. For specific Identification, ending Inventory consists of 300 units, where 280 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 (c) LIFO. Complete this question by entering your answers in the tabs below. Specific Id Weighted Average FIFO LIFO 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) Weighted Average Cost of Goods Available for Sale Average Cost of Goods # of units Cost per Available for unit Sale Cost of Goods Sold # of units Average Cost of sold Cost per Goods Sold Unit Ending Inventory # of units Average in ending Cost per Ending Inventory inventory unit Beginning inventory Purchases Jan. 20 Jan. 30 Total 0 $ $ s 0 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 190 units @ $7.00 - $1,330 150 units @ $16.80 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 110 units @ $6.00 = 660 130 units @ $16.00 280 units @ $5.50 = 580 units 1,549 $3,530 280 units Required: The Company uses a periodic Inventory system. For specific Identification, ending Inventory consists of 300 units, where 280 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 (LIFO. Complete this question by entering your answers in the tabs below. 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 of Goods Cost per # of units Available for unit Sale # of units Cost per sold unit Cost of Goods Sold Ending Inventory # of units in ending Cost Ending inventory per unit Inventory Beginning inventory Purchases: Jan. 20 Jan. 30 Total $ 0 0 $ 0 0 S 0 # of units Cost per Available for 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 190 units @ $7.00 = $1,330 Jan. 19 Sales 150 units @ $16.00 Jan. 20 Purchase 110 units @ $6.00 = 660 Jan. 25 Sales 130 units @ $16.80 Jan. 30 Purchase 280 units @ $5.50 = 1,540 Totals 580 units $3,530 280 units Required: The Company uses a periodic Inventory system. For specific Identification, ending Inventory consists of 300 units, where 280 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 (LIFO. Complete this question by entering your answers in the tabs below. Specific Id Weighted FIFO LIFO 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 Sold Ending Inventory Cost of Goods # of units # of units Cost per Cost of Cost Ending unit sold in ending Sale unit Goods Sold inventory per unit Inventory Average Beginning inventory Purchases: Jan. 20 Jan. 30 Total 0 s 0 $ 0 0 1 $ 0