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 385 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory. Date January 1 January 10 January 20 January 25 January 30 Activities Beginning inventory Sales Purchase Sales Purchase Totals Units Acquired at Cost 235 units @ $ 16.00 = Units sold at Retail $ 3,760 185 units @ $ 25.00 180 units @ $ 15.00 = 2,700 200 units $ 25.00 385 units 800 units $ 13.00 = 5,005 $ 11,465 385 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. Answer is complete but not entirely correct. 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 LIFO. Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. Perpetual LIFO: Cost of Goods Sold Goods Purchased Cost Date # of units # of units per sold unit January 1 January 10 $ 180 at January 20 15.00 Total January 20 January 25 Total January 25 $ 385 at 13.00 January 30 Totals Cost Cost Cost of per unit # of units per Goods Sold Inventory Balance Inventory Balance unit $ 235 at |= $ 3,760.00 16.00 S 185 at = 50 at 16.00 2,960.00 $ 16.00 = $ 69 800.00 60 $ 50 at = 69 16.00 $ 180 at = 800.00 2,700.00 15.00 20 at $ 15.00 = $ 300.00 30 at $ 16.00 = $ $ 180 at = 2,880.00 0 at = 16.00 15.00 $ 3,180.00 $ 6,140.00 < FIFO 19 A 3,500.00 480.00 $ 480.00 30 69 30 at = $ 480.00 16.00 $ 0 at 15.00 $ 385 at = 13.00 5,005.00 $ 5,485.00 LIFO