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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.

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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 222 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 37 are from beginning inventory Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost Voits sold at Retail 151 units 36.00 - 3906 89 units $15.00 71 units 55.00 - 355 91 units @ $15.00 180 units $4.50 - 810 402 units $2,071 The 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 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 # of units Cost Per Unit Purchase Date Ending Invitory Cost Per Unit Ending Inventory Cost Cost Per Unit of units Activity COGS Ending Inventory Units Bold Jan 1 Jan 20 Jan 30 Beginning inventory Purchase Purchase 151 71 180

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