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. The Company uses a perpetual inventory system. For specific identification, ending Inventory consists of 340 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Date January 1 January 10 Activities Beginning inventory 210 units @ Units Acquired at Cost $ 13.50 = Units sold at Retail $ 2,835 January 20 January 25 Sales Purchase Sales 160 units (a) $ 22.50 150 units @ $ 12.50 = 1,875 180 units $ 22.50 January 30 Purchase Totals 340 units @ $ 12.00 700 units 4,080 $ 8,790 340 units 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. Specific Id Weighted Average FIFO LIFO Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. Ending Inventory- Cost Specific Identification Available for Sale Cost of Goods Sold Ending Inventory Purchase Date Activity # of units Cost Per Unit # of units sold Cost Per Unit COGS Ending Inventory- Units Cost Per Unit January 1 January 20 January 30 Beginning inventory Purchase Purchase 210 150 340 700 Specific Id Weighted Average > 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.) Weighted Average - Perpetual: January 1 January 10 Goods Purchased Cost of Goods Sold Inventory Balance Date # of units Cost per unit # of units sold Cost per unit Cost of Goods Sold # of units Cost per unit Inventory Balance 210 at $ 13.50 = $ 2,835.00 January 20 Average cost January 20 January 25 January 30 Totals < Specific Id FIFO > Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. Goods Purchased Perpetual FIFO: Cost of Goods Sold Inventory Balance Cost per unit Inventory Balance 210 at $13.50 = $ 2,835.00 Date # of units Cost per unit # of units sold Cost per unit Cost of Goods Sold # of units January 1 January 10 January 20 Total January 20 January 25 Total January 25 January 30 Totals < Weighted Average LIFO > Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. Goods Purchased Perpetual LIFO: Cost of Goods Sold Date # of units Cost per unit # of units sold Cost per unit Cost of Goods Sold # of units January 1 210 at $13.50 = Inventory Balance Cost per unit Inventory Balance 2,835.00 69 $ January 10 January 20 Total January 20 January 25 Total January 25 January 30 Totals < FIFO LIFO