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 sold at Date Activities Units Acquired at Cost Retail Jan. 1 Beginning inventory 140 units@ $6.00 $ 840 Jan. 10 Sales 100 units @ $15 Jan. 20 Purchase 60 units @ $5.00 300 Jan. 25 Sales 80 units @ $ 15 Jan. 30 Purchase 180 units@ $4.50 810 Totals 380 units $1,950 180 units The Company uses a perpetual Inventory system. For specific Identification, ending Inventory consists of 200 units, where 180 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 the table to determine the cost assigned to ending inventory and cost of goods sold using specific Identification Specific Identification Avaliable for Sale Cost of Goods Sold Purchase Date Ending Inventory Ending Cost Per Ending Inventory: Onit Inventory Units Cost Activity Unit Cost Units Units Sold Unit Cost COGS Jan. 1 Jan. 20 Jan. 30 Beginning inventory Purchase Purchase 140 60 180 380 0 $ 0 $ 0 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: Goods Purchased Cost of Goods Sold #of Cost per Cost of Goods units Sold sold # of units Cost per unit Inventory Balance Cost per Inventory # of units unit Balance Date unit 1401 $ 6.00 = 5840.00 January 1 January 10 January 20 Average cost January 25 January 30 Totals Determine the cost assigned to ending Inventory and to cost of goods sold using FIFO. Perpetual FIFO: Goods Purchased Cost of Goods Sold Inventory Balance Date Cost per # of units Cost per cost of Goods Cost per Inventory unit # of units units sold Sold unit unit Balance $ January 1 140 $ 6.00 - 840.00 January 10 January 20 #of January 25 January 30 Totals