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. Units Acquired at Cost Date Activities units sold at Retail Jan. 1 Beginning inventory 168 units $8.50 = $1,368 Jan. 18 Sales 129 units @$17.50 Jan. 28 Purchase 100 units @ $7.50 = 758 Jan. 25 Sales Jan. 38 Purchase Totals 120 units @ $17.50 228 units @ $7.00 = 400 units 1,548 $3,650 240 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 240 units, where 220 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 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 Purchase Date Activity Units Unit Cost Units Sold Unit Cost COGS Jan. 1 Beginning inventory 160 $8.50 Ending Inventory Units 160 Cost Per Unit Ending Inventory Cost $ 8.50 $ 1,360 Jan, 20 Purchase 100 $ 7.50 120 $ 7.50 $ 900 Jan. 30 Purchase 220 $ 7,00 480 120 $ 900 160 $ 1,360 Required 2 >