Required information [The following information applies to the questions displayed below.] Check my work 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 210 units from the January 30 purchase, 5 units from the January 20 purchase, and 30 units from beginning inventory. Date Activities Sales Purchase 630 Units sold at Retail 115 units @ $ 17.00 Units Acquired at Cost Beginning inventory 155 units e $ 8.00- $ 1,240 90 units e 210 units e 455 units $ 7.00 = 95 units $ 6.50- 1,365 $ 3,235 210 units January 1 January 10 January 20 January 25 Sales January 30 Purchase Totals $ 17.00 Required: 1. Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. Required information Complete this question by entering your answers in the tabs below. Specific Id Weighted Average FIFO LIFO Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. Specific Identification Available for Sale Cost of Goods Sold Ending Inventory Purchase Date Activity # of units Cost Per Unit # of units sold Cost Per Unit COGS Ending Inventory- Units Cost Per Unit Ending Inventory January 11 January 201 Beginning inventory 155 $ 8.00 155 $ 8.00 $ Purchase 90 $ 7.00 January 30 Purchase 210 $ 6.50 $ 6.50 618 455 95 $ 618 155) $ Specific Id Weighted Average > 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: January 1 January 10 Goods Purchased Cost of Goods Sold Inventory Balance Date # of units Cost per # of units unit Cost per sold unit Cost of Goods Sold # of units Cost per unit Inventory Balance 155 at $ 8.00= $ 1,240.00 January 20 Average cost January 20 January 25 January 30 Totals Prev 1 2 3 4 of 8 Next > ook int int Specific Id Weighted Average FITO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO: Goods Purchased Cost of Goods Sold Date # of units Cost per unit # of units sold Cost per Cost of Goods unit Sold # of units January 1 155 at ences January 10 January 20 Total January 20 January 25 Total January 25 9 Inventory Balance Cost per unit Inventory Balance $ 8.00= $ 1,240.00 Prey 1 2 3 4 of 8 Next > Specific Id Weighted Average FIFO LITO Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. ook Goods Purchased Perpetual LIFO: Cost of Goods Sold Date int # of units Cost per unit # of units sold: unit Cost per Cost of Goods Sold # of units unit Inventory Balance Cost per Inventory Balance rint January 11 155 at $ 8.00 = $ 1,240.00 ences January 10 January 20 Total January 20 January 25 Total January 25