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 355 units from the January 30 purchase. 5 units from the January 20 purchase, and 15 units from beginning inventory Date activities Units Acquired at Cost Units sold at Retail January 1 Beginning inventory 215 units $ 14,00 $ 3,010 January 10 Sales 165 units $23.00 January 20 Purchase 160 units $ 13.00 2,080 January 25 Sales 5 25.00 January 30 Purchase 355 unitse $ 11.00 2.905 Totals 730 units $ 3,995 355 units 190 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 TO LITO Complete the table to determine the cast 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 Cost Per of units Ending of units Unit sold Cost Per Unit COGS Inventory Ending Cost Per Unit Units Inventory. Cost January 1 Beginner 21500 January 20 Purchase 1805 13.00 January 30 Purchase 35575 1100 730 0 $ 0 5 0 0 Weighted Average > Determine the cost assigned to ending inventory and to cost of goods sold using weighted average Round cost per un to 2 decimales Welated Averror Perpetual Goods Purchased Cost of Goods Sold # of units Cost per of units Cost per Cost of Goods unit sold unit Sold Date Inventory Balance Coat per unit Inventory Balance of units January 215 14.00 $ 3 01000 January 10 January 20 Average cost January 20 January 25 January 30 Tofas Determine the cost assigned to ending inventory and to cost of goods sold using FT. Date Goods Purchased Cost per of units unit Perpetual FIFO: Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Inventory Balance Cost per of units unit Inventory Balance 215 a $ 1400 = $3,01000 January 1 January 10 January 20 Total January 20 January 25 Total January 25 January 30 Totais Date Goods Purchased Cost per of units unit Perpetual LIFO: Cost of Goods Sold of units Cost per Cost of Goods sold unit Sold Inventory Balance unit Inventory Balance #of units Cost per January 1 215 at $ 14.00 S 3,010.00 January 10 January 20 Total January 20 January 25 Total January 25 January 30 Totals 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 355 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory Date Activities units Acquired at Cost Units sold at Retail January 1 Beginning inventory 215 units $14.00 $ 3,010 January te Sales 165 units $ 23.00 January 20 Purchase 160 units $ 13.00 2,080 January 25 Sales 190 units e $ 23.00 January 30 Purchase 355 units $ 11.00 - 3,905 Totals 730 units $ 8,995 355 units Pontiradi
