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. Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 205 units @ $13.00 - $2,665 Jan. 10 sales 165 units @ $22.00 Jan. 20 Purchase 140 units $12.00 - 1,680 Jan. 25 Sales 145 units @ $22.00 Jan. 30 Purchase 310 units $11.50 - 3,565 Totals 655 units $7,910 310 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 345 units, where 310 are from the January 30 purchase, 5 are from the January 20 purchase, and 30 are from beginning inventory. 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. Required 1 Required 2 Required 3 Required 4 Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. (Round cost per unit to 2 decimal places.) Specific Identification Available for Sale Cost of Goods Sold Ending Inventory Ending Ending Purchase Date Activity Units Cost Inventory Inventory Unit Units Sold Unit Cost COGS Cost Per Unit Units Cost Jan. 1 Jan. 20 Jan. 30 Beginning inventory Purchase Purchase 205 $ 13.00 140 $ 12.00 310 S 11.50 655 0 0 $ 0 0 $ 0 Units sold at Retail Units Acquired at Cost 205 units @ $13.00 - $2,665 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 140 units@ $12.00 - 1,680 165 units @ $22.00 145 units $22.00 310 units@ $11.50 -3,565 655 units $7,910 310 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 345 units, where 310 are from the January 30 purchase, 5 are from the January 20 purchase, and 30 are from beginning inventory. 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. Required 1 Required 2 Required 3 Required 4 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: Goods Purchased Cost of Goods Sold Inventory Balance #of Date units Cost per unit #of units sold Cost per cost of Goods Sold unit # of units Cost per unit Inventory Balance 205 $ 13.00 $ 2,665.00 January 1 January 10 January 20 Average cost January 25 January 30 Totals 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 Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 205 units@ $13.00 = $2,665 Jan. 20 Sales 165 units $22.00 Jan. 20 Purchase 140 units@ $12.00 = 1,650 Jan. 25 Sales 145 units @ $22.00 Jan. 30 Purchase 310 units@ $11.5 =3,565 Totals 655 units $7,910 310 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 345 units, where 310 are from the January 30 purchase, 5 are from the January 20 purchase, and 30 are from beginning inventory. 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. Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. (Round cost per unit to 2 decimal places.) Perpetual FIFO Goods Purchased Cost of Goods Sold Inventory Balance # of Cost per # of units Date Cost per Cost of Goods Cost per Inventory of units units unit sold Sold Balance January 1 205 @ $ 13.00 $ 2,655.00 unit January 10 January 20 January 25 January 30 Totals [The following information applies to the questions displayed below.) Laker Company reported the following January purchases and sales data for its only product. Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 205 units @ $13.00 - $2,665 Jan. 10 Sales 165 units @ $22.00 Jan. 2e Purchase 140 units $12.00 - 1,689 Jan. 25 Sales 145 units $22.00 Jan. 30 Purchase 310 units@ $11.5e - 3,565 Totals 655 units $7,910 310 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 345 units, where 310 are from the January 30 purchase, 5 are from the January 20 purchase, and 30 are from beginning inventory. 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. Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. (Round cost per unit to 2 decimal places.) Perpetual LIFO Goods Purchased Cost of Goods Sold Inventory Balance Date # of Cost per #of units Cost per Cost of Goods Cost per Inventory units # of units sold Sold Balance January 1 205 @ S 13.00 - $ 2,665,00 January 10 January 20 unit unit unit January 25 January 30 Totals