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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.

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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. The Company uses a periodic inventory system. For specific identification, ending inventory consists of 226 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 41 are from beginning inventory 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 153 units@ $6.00 $ 918 87 units@ $15.00 73 units @ $5.00 365 93 units @ $15.00 180 units @ $4.50 = 810 486 units $2,093 180 units Specific Identification Available for sale Cost of Good Gold Parehase Date Activity of units Cool Per W of units Cost Per Una Ending Inventory Unit cos riding Inventory Cost Per Unit Ini Inventary-Gent Jan 1 Jan 20 un 30 Beginning inventory Purchase Purchase 153 73 180 408 USH weryniced dverage. (Round cost per unit to 2 decimal Weighted Average - Perpetual: Goods Purchased Cost of Goods Sold Inventory Balance Date #of units Cost per # of units sold Cost per unit Cost of Goods Sold unit # of units Cost per unit Inventory Balance 153 @ $ 6.00 = $ 918.00 January 1 January 10 January 20 Average cost January 25 January 30 Totals Perpetual FIFO: Inventory Balance Date Goods Purchased #of units unit Cost per Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold # of units Cost per January 1 Inventory Balance unit $ 6.00 - $ 918.00 153 @ January 10 January 20 January 25 January 30 Totals Perpetual LIFO: Goods Purchased # of units unit Date Cost per Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Inventory Balance unit Inventory Balance Cost per of units January 1 153 $ 6.00 $ 918.00 January 10 January 20 January 25 January 30 Totals

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