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 Activities Beginning inventory January 10 Sales January 20 January 25 Purchase Sales January 30 Purchase Totals Units Acquired at Cost 235 units $ 16.00-1 Units sold at Retail. $ 3,760 185 units @ $ 25.00 180 units $ 15.00- 2,700 200 units @ $ 25.00 385 units $13.00 = 800 units 5,005 $ 11,465 385 units The Company uses a periodic 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. 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 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 FIFO. c) Periodic FIFO Cost of Goods Available for Sale Cost of Goods Sold # of units Cost per unit Cost of Goods Available for Sale # of units sold Cost per unit Cost of Goods Sold Reninninn inventory 235 1600 $ 3760 2353 16.00 S arant < Prev 6 7 of 10 Next > # of units in ending Inventory Ending Inventory Cost per unit Ending Inventory