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 Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 225 units@ $15.00 = $ 3,375 Jan. 10 Sales 175 units @ $24.90 Jan. 20 Purchase 180 units@ $14.00= 2,520 Jan. 25 Sales 210 units @ $24.00 Jan. 30 Purchase 350 units@ $13.50 = 4,725 Totals 755 units $10, 620 305 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 370 units, where 350 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. 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 ht 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 Inventory Units Ending Purchase Date Ending Activity Units Unit Cost Cost Per Sold Unit Cost COGS Inventory Unit Inventory Units Cost Jan 1 Beginning inventory 225 Jan 20 Purchase 180 Jan 30 Purchase 350 0 $ 0 0 $ 0 rences 755 Required Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Determine the costs assigned to ending inventory and to cost of goods sold using weighted average. (Round Weighted Average - Perpetual: Goods Purchased # of Date units + unit Cost of Goods Sold Cost per # of units sold Inventory Balance Cost per Inventory # of units unit Balance Cost per Cost of Goods unit Sold 225 $ 15.00 = $3,375.00 January 1 January 10 January 20 Average cost January 25 January 30 Totals Required information Required 1 Required 2 Required 3 Required 4 Determine the costs assigned to ending Inventory and to cost of goods sold using FIFO. Perpetual FIFO: + Goods Purchased # of units unit Cost of Goods Sold Date Cost per # of units sold Cost per Cost of Goods unit Sold Inventory Balance Inventory # of units unit Balance 225 @ $15.00 = $3,375.00 Cost per January 1 January 10 January 20 January 25 January 30 Totals Required information Required 1 Required 2 Required 3 Required 4 Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. 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 Inventory # of units unit Balance 225 @ $ 15.00 = $3,375.00 Cost per January 1 January 10 January 20 January 25 January 30 Totals