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 Beginning Jan. 1 inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost Units sold at Retail 220 units@ $14.50 = $ 3,190 170 units@ $23.50 170 units@ $13.50 = 2,295 200 units @ $23.50 370 units@ $13.00 = 4,810 760 units $10,295 370 units Required: The Company uses a periodic inventory system. For specific identification, ending inventory consists of 390 units, where 370 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. 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 390 units, where 370 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning invent a) Specific Identification Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Goods # of units Cost per unit Available for Sale # of units Cost per sold unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory Beginning inventory Purchases: Jan, 20 Jan. 30 Total 50 151 $ 0 $ 0 Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 dec b) Average Cost Cost of Goods Sold Cost of Goods Available for Sale Average Cost of Goods # of units Cost per Available for unit Sale # of units Average Cost of Ending Inventory # of units Average Ending in ending Cost per Inventory sold Cost per Goods Sold Unit inventory unit Beginning inventory Purchases: Jan. 20 Jan. 30 Total $ 0