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 270 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Units sold at Retail Units Acquired at Cost 180 units @ $ 10.50 = $ 1,890 140 units @ $19.50 Date January 1 January 10 January 20 January 25 January 30 Activities Beginning inventory Sales Purchase Sales Purchase Totals 110 units @ $ 9.50 = 1,045 130 units @ $ 19.50 @ $ 9.00 = 270 units 560 units 2,430 $ 5,365 270 units 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 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- Cost 180 0 January 1 January 20 January 30 Beginning inventory Purchase 110 0 Purchase 270 0 560 0 $ 0 0 $ 0 Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. Goods Purchased Perpetual FIFO: Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Inventory Balance Date Cost per Cost per # of units # of units Inventory Balance unit unit January 1 180 at $ 10.50 = $ 1,890.00 January 10 January 20 Total January 20 January 25 Total January 25 January 30 Totals Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. Goods Purchased Perpetual LIFO: Cost of Goods Sold units Cost per Cost of Goods sold unit Sold Inventory Balance Date Cost per # Cost per # of units # of units unit Inventory Balance unit January 1 180 at $ 10.50 = $ 1,890.00 January 10 January 20 Total January 20 January 25 Total January 25 January 30 Totals