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 420 units, where 400 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. Date Jan. 1 Activities Beginning inventory Units Acquired at Cost 230 units @ $15.50 $ 3,565 Units sold at Retail 180 units $24.50 190 units $14.50- Jan. 30 Purchase Totals 400 units $14.00- 820 units 2,755 5,600 $11,920 400 units 220 unita e $24.50 Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Required: Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c) FIFO, and (d) LIFO. Complete this questions by entering your answers in the below tabs. Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using specific identification. For specific identification, ending inventory consists of 420 units, where 400 are from the January 30 purchase, S are from the January 20 purchase, and 15 are from beginning inventory. Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of Goods of units Cost per Available for unit #of units Cost per sold unit Cost of Goods Sold Sale of units In ending Inventory Beginning inventory 230 $15.50 $ 3,565 215 $15.50 $ 3,333 Cost per unit 15 $15.50 $ Ending Inventory 233 Purchases Jan. 20 Jan. 30 Total 190 $14.50 2.755 185 $14.50 400 $14.00) 5,600 0 820 $ 11,920 400 2,683 5 $14.50 73 400 $14.00 5,600 $ 6,016 420 $ 5,900