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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.

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 Units Acquired at Cost Units sold at Retail
Jan. 1 Beginning inventory 235 units @ $ 16.00 = $ 3,760
Jan. 10 Sales 185 units @ $ 25.00
Jan. 20 Purchase 180 units @ $ 15.00 = 2,700
Jan. 25 Sales 200 units @ $ 25.00
Jan. 30 Purchase 370 units @ $ 14.50 = 5,365
Totals 785 units $ 11,825 385 units

The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 400 units, where 370 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 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. Need tables for specific identification, weighted average perpetual, perpetual fifo, and perpetaul lifo. All tables need goods purchased, costs of goods sold, and inventory balance.

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