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 200 units, where 180 are from the January 30 purchase. 5 are from the January 20 purchase, and 15 are from beginning inventory. Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost 140 units $6.00-$840 Units sold at Retail 100 unite $15 60 units $5.00- 300 80 units @ $15 180 units $4.50- 380 units 810 $1,950 180 units 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. Weighted BEO LIFO 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. Specific Identification Available for Sale Cost of Goods Sold Purchase Date: Activity # of units Cost Per Unit # of units Cost Per Unit Ending COGS Inventory- Ending Inventory Cost Per Unit sold Units Ending Inventory- Cost Jan. 1 Beginning inventory 140 Jan. 20 Purchase 60 Jan. 301 Purchase 180 380 Specific Id Weighted Average > art 2 of 2 Complete this question by entering your answers in the tabs below. 2 Specific Id Weighted Average loos 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: Hint Goods Purchased Cost of Goods Sold Inventory Balance Prin of Date #of units Cost per unit rences units sold Cost per Cost of Goods unit Sold of units unit Cost per Inventory Balance January 1 140 $6.00 $840.00 January 10 January 201 Average cost January 25 January 30 Totals Specific Id Weighted Average of 21 FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO: Goods Purchased Cost of Goods Sold #of Date units Cost per #of units unit sold Cost per Cost of Goods unit Sold Inventory Balance Cost per # of units unit bok January 1 140 @ Inventory Balance $ 6.00- $ 840.00 mt January 10 January 20 inces January 25 January 30 Totals 9 Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. Perpetual LIFO: Date January 11 January 10 January 20 January 25 January 30 Totals Goods Purchased Cost of Goods Sold # of units Cost per unit # of units sold Cost per Cost of Goods unit Sold # of units Inventory Balance Cost per unit Inventory Balance 140 $6.00 $840.00 www < Prev 3 of 7 Next >