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 sold at Retail Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost 175 units@ $10.00 - $1,750 130 units @ $ 9.00 - 1,170 135 units @ $19.00 @ $ 140 units @ $19.00 250 units @ $ 8.50 = 2,125 555 units $5,845 275 units The Company uses a perpetual Inventory system. For specific Identification, ending Inventory consists of 280 units, where 250 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. (Round cost per unit to 2 decimal places.) Specific Identification Available for Sale Cost of Goods Sold Ending Purchase Date Activity Units Unit Cost Units Sold Unit Cost COGS Ending Inventory Ending Cost Inventory- Per Inventory- Units Unit Cost 25 S 10.00 S 250 . Jan. 1 Beginning inventory 175 $ 1,500 . Jan. 20 130 S 10.00 S 9.00 S 8.50 Purchase Purchase OOO $ 1.125 150 S 10.00 125 S 9.00 0 0 . tou Is 45 Jan. 30 250 5 $ 9.00 250$ 8.50 280 S who 2.125 2,420 555 275 $ 2,625 S Required 1 Required 2 Required 3 Required 4 per @ @ Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal plac Weighted Average - Perpetual: Goods Purchased Cost of Goods Sold Inventory Balance # of Cost Cost # of units Date Cost Cost of Goods units sold per Inventory # of units per unit Sold unit unit Balance January S 1 175 $1,750.00 10.00 January S S 135 10 10.00 $1,350.00 @ 10.00 = $400.00 January 130 S 20 @ S 9.00 40 @ $ 400.00 10.00 130 @ $ 9.00 1,170.00 Average cost 170 @ S 9.27 x $1,570.00 January 140 25 @ $ 9.26 $1.296.40 20 X @ S 9.27 X = $ 185.40 January 250 30 @ $ 8.50 20 @ $ 9.27 s 185.40 250 @ S 8.50 2,125.00 Totals $2,646.40 270 @ S 8.55 X $2,310.40 40 40 = = = Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. (Round cost per unit to 2 decimal places.) Perpetual FIFO: Goods Purchased # of Cost per units unit Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Date Inventory Balance Cost per Inventory # of units unit Balance 175 @ $ 10.00 = $ 1,750.00 January 1 January 10 January 20 January 25 January 30 Totals Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. (Round cost per unit to 2 decimal places.) Perpetual LIFO: Goods Purchased # of Cost per units unit Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Date Inventory Balance Cost per Inventory # of units unit Balance 175 @ $ 10.00 = $ 1,750.00 January 1 January 10 January 20 January 25 January 30 Totals