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. Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost Units sold at Retail 225 units@ $15.00 = $ 3,375 175 units @ $24.00 180 units@ $14.00 = 2,520 210 units @ $24.00 385 units @ $13.00 = 5,005 790 units $10,900 385 units Required: The Company uses a periodic inventory system. For specific identification, ending inventory consists of 405 units, where 385 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, () FIFO, and (() LIFO. Answer is not complete. Complete this questions by entering your answers in the below tabs. Specific id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using specific identification. For specific identification, ending inventory 405 units, where 385 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. a) Specific Cost of Goods Available for Identification Sale Cost of Goods Sold Ending Inventory Cost of # of Cost # of Goods Cost Cost of # of units Cost per units units Available Ending Goods per in ending per unit sold Inventory Sold unit for Sale inventory unit Beginning inventory 225 S 15.00 3,375 20 X $ 15.00 300 15 S 15.00 225 Purchases: Jan. 20 180 2,520 2,450 175 $ 14.00 5 70 14.00 14.00 Jan. 30 385 13.00 5,005 0 385 13.00 5,005 Total 790 S 10,900 195 $ 2,750 405 $ 5,300 ecific Id Weighted Average > Required: The Company uses a periodic inventory system. For specific identification, ending inventory consists of 405 units, where 385 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (FIFO, and (d) LIFO. Answer is not complete. Complete this questions by entering your answers in the below tabs. Specific id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. d) LIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of # of Cost Goods units per Available for Sale 225 15.00 $ 3,375 # of units sold Cost per Cost of Goods # of units in ending inventory Cost per unit Ending Inventory unit unit Sold Beginning inventory Purchases: Jan. 20 180 14.00 2,520 Jan. 30 385 13.00 5,005 Total 790 $ 10,900 0 0 0 $ 0 Required: The Company uses a periodic inventory system. For specific identification, ending inventory consists of 405 units, where 385 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (FIFO, and (c) LIFO. Answer is not complete. Complete this questions by entering your answers in the below tabs. Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. c) FIFO Cost of Goods Sold Ending Inventory # of Cost of Goods Available for Sale Cost of # of Cost Goods per Available unit for Sale 225 15.00 3,375 Cost per unit units Cost of Goods Sold units # of units in ending inventory Cost per unit Ending Inventory sold Beginning inventory Purchases Jan. 20 180 14.00 2.520 Jan. 30 385 13.00 5,005 Total 790 $ 10,900 0 $ 0 0 0