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 Acquired at Cost 215 units@ $14.00 = $3,010 Activities Units sold at Retail Date 1 Beginning inventory Jan. 165 units a $23.00 Jan. 10 Sales 160 units @ $13.00 = Jan. 20 Purchase 2,080 190 units @ $23.00 Jan. 25 Sales 330 units@ $12.50 = Jan. 30 Purchase 4,125 705 units $9,215 355 units Totals The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 350 units, where 330 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. Perpetual FIFO Goods Purchased Cost of Goods Sold Inventory Balance Cost Cost Cost # of units #of units sold Cost of Goods Sold Inventory Balance Date # of units per per per unit unit unit $ 3,010.00 January 1 215 @ 14.00 $ 14.00 $700.00 January 10 165 @ 50 14.00 2,310.00 $ January 20 160 $700.00 50 @ 13.00 14.00 2,080.00 160 13.00 $ 2,780.00 $ 14.00 $ 13.00 $ January 25 50 $ 700.00 14.00 $ 13.00 $ 260.00 140 1,820.00 $ 2,520.00 $ 260.00 $ 12.50 $ $ 4,620.00 330 @ January 30 330 14.00 13.00 12.50 $ 4,830.00 Totals 4,620.00 20 Perpetual LIFO Goods Purchased Cost of Goods Sold Inventory Balance Cost Cost Cost # of # of units Cost of Goods Inventory Balance Date # of units per unit per unit per unit sold Sold units $ 3,010.00 $ 14.00 January 1 215 $ 2,310.00 $ 700.00 165 $14.00 January 10 50 @ @ 14.00 $ $ 700.00 $14.00 January 20 160 50 13.00 $ 13.00 160 2,080.00 $ 2,780.00 $14.00 $ 280.00 January 25 $ 0.00 14.00 $ 13.00 $13.00 0.00 $ 280.00 $14.00 $ 280.00 January 30 330 20 12.50 $13.00 330 4,290.00 $ 12.50 $ 2,310.00 $ 4,570.00 Totals II 20