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 Units Acquired at Cost 160 units @ $8.50 = $1,360 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sa Jan. 30 hase 120 units @ $17.50 100 units@ $7.50 = 750 0 120 units @ $17.50 0 220 units@ $7.00 = 480 units 1,540 $3,650 240 units 0 The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 240 units, where 220 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 costs assigned to ending inventory and to cost of goods sold using specific identification. 2. Determine the costs assigned to ending inventory and to cost of goods sold using weighted average. 3. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. 4. Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. 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 costs assigned to ending inventory and to cost of goods sold using specific identification. Specific Identification Available for Sale Cost of Goods Sold Ending Ending Inventory Ending Inventory- Unit Inventory- Units Cost Cost Per Purchase Date Activity Unit Cost Units Units Sold Unit Cost COGS 160 Jan. 1 Jan. 20 Jan. 30 Beginning inventory Purchase Purchase 100 220 480 $ 0 0 Determine the costs assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal places.) Weighted Average - Perpetual: Goods Purchased Inventory Balance # of units Date Cost of Goods Sold # of Cost per Cost of Goods units sold unit Sold Cost per unit # of units Cost per unit Inventory Balance January 1 160 @ $ 8.50 = $1,360.00 January 10 January 20 Average cost January 25 January 30 Totals Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO: Goods Purchased # of units Date Cost per unit Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold # of units Inventory Balance Cost per Inventory Balance 160 @ $ 8.50 = unit January 1 January 10 January 20 January 25 January 30 Totals Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. 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 # of units Inventory unit Balance 160 @ $ 8.50 1,360.00 January 1 January 10 January 20 January 25 January 30 Totals