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 300 units, where 280 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. Date Activities Units Acquired at Cost Units sold at Retail $7.00-$1,330 Jan. 1 Beginning inventory 190 units Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 150 units $16.00 110 units $6.00- 660 130 units $16.00 280 units 580 units. $5.50-1,540 $3,530 280 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 questions by entering your answers in the below tabs. 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 Sold Ending Inventory Cost of Goods Available for Sale # 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 Cost per unit Inventory Beginning inventory Purchases Jan. 201 Jan. 30 Total Spesific Id Weighted Average > 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) Average Cost Cost of Goods Available for Sale Average Cost of Goods Soldi Ending Inventory # of units Cost per unit Cost of Goods Available for Sale # of units Average Cost per # of units sold Cost of Goods Sold Unit in ending inventory Average. Cost per unit Ending Inventory Beginning inventory Purchases: Jan. 20 Jan. 30 Total 0 $ < Specific Id FIFO > Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. e) FIFO Cost of Goods Available for Sale Beginning inventory Purchases Jan. 201 Jan 30 Total Ending Inventory #of units Cost per unit Cost of Goods Available for Sale Cost of Goods Sold of units Cost per sold unit Cost of Goods Sold of units in ending Inventory 0 $ Cost Ending per unit Inventory Specific Id Weighted Average 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 Beginning inventory Purchases Jan. 201 Jan. 30 Total Ending Inventory Ending Cost per unit Inventory of units Cost per unit Cost of Goods # of units Available for sold Sale Cost per unit # of units Cost of Goods Sold in ending inventory o $