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 370 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Date January 1 Activities Beginning inventory January 10 January 20 January 25 January 30 Sales Purchase Sales Purchase Totals Required: Units Acquired at Cost 220 units @ $ 14.50 = Units sold at Retail $ 3,190 170 units @ $ 23.50 170 units @ $ 13.50 = 2,295 200 units @ $ 23.50 370 units 760 units $ 13.00 = 4,810 $ 10,295 370 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. 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.) Weighted Average - Perpetual: Goods Purchased Cost of Goods Sold Inventory Balance Date # of units Cost per # of units unit sold Cost per unit Cost of Goods Sold # of units Cost per unit Inventory Balance January 1 January 10 January 20 220 at $ 14.50 = $ 3,190.00 170 at $ 14.50 = 2,465.00 170 at $ 13.50 50 at 50 at $ $ 14.50 = $ 725.00 14.50= $ 725.00 Average cost January 20 170 at $ 220 at 13.50 = 2,295.00 $ 3,020.00 200 at $ 13.50 = $ 2,700.00 200 at $ 13.00 = 2,600.00 January 25 January 30 Totals $ 5,165.00 < Specific Id FIFO >