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 periodic inventory system. For specific identification, ending inventory consists of 214 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 29 are from beginning inventory. Date Activities January 1 Beginning inventory January 10 Sales January 20 Purchase January 25 Sales January 30 Purchase Totals Units Acquired at Cost 147 units @ $ 6.00 = Units sold at Retail $ 882 93 units @ $ 15.00 67 units $ 5.00 335 87 units @ $ 15.00 180 units @ $ 4.50 = 810 394 units $ 2,027 180 units Required: Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c) FIFO, and (d) LIFO. Required: Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c) FIFO, and (d) 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 214 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 29 are from beginning inventory. a) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost per # of units unit Cost of Goods Available for Sale # of units in # of units sold Cost per unit Cost of Goods Sold ending inventory Cost per unit Ending Inventory Beginning inventory Purchases: January 20 January 30 Total 0 $ 0 0 $ 0 < Specific Id Weighted Average > 0 $ 0 Required: Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c) FIFO, and (d) 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. Note: Round cost per unit to 2 decimal places. b) Weighted average - Periodic Cost of Goods Available for Sale Cost of Goods Sold # of units Average Cost per unit Cost of Goods Available for Sale # of units sold Average Cost per Unit Cost of Goods Sold # of units in ending inventory Ending Inventory Average Cost per unit Ending Inventory Beginning inventory Purchases: January 20 January 30 Total 0 $ 0 < Specific Id $ 0 $ 0 FIFO > Required: Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c) FIFO, and (d) LIFO. Complete this question by entering your answers in the tabs below. Specific Id Weighted Average FIFO LIFO c) Periodic FIFO Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Cost per unit Cost of Goods Available for Sale # of units sold Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory Beginning inventory Purchases: January 20 January 30 Total 0 $ 0 0 $ 0 < Weighted Average LIFO > 0 $ 0 Required: Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c) FIFO, and (d) LIFO. Complete this question by entering your answers in the tabs below. Specific Id Weighted Average FIFO LIFO d) Periodic LIFO Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. Cost of Goods Available for Sale Cost of Goods Sold # of units Cost per unit Cost of Goods Available for Sale # of units sold Cost per unit Cost of Goods Sold # of units in ending inventory Ending Inventory Cost per unit Ending Inventory Beginning inventory Purchases: January 20 January 30 Total 0 $ 0 0 $ 0 0 $ 0 < FIFO LIFO