Required information Use the following information for the Exercises 3-7 below. (Algo) [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 218 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 33 are from beginning inventory. Date: Activities January 1 Beginning inventory January 10 Sales January 20 Purchase January 25 Sales January 30 Purchase Totals 149 units @ Units Acquired at Cost $6.00 = $ 894 91 units @ Units sold at Retail $ 15.00 69 units @$5.00 = 345 89 units @ $ 15.00 180 units 398 units @ $ 4.50 = 810 $ 2,049 180 units Complete this question by entering your answers in the tabs below. Specific Id Weighted FIFO Average LIFO Determine the cost assigned to ending inventory and to cost of goods sold using specific identification. For specific identification, ending inventory consists c are from the January 30 purchase, 5 are from the January 20 purchase, and 33 are from beginning inventory. a) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Cost per unit Cost of Goods Available for Sale of units sold Cost per Cost of Goods unit Sold # of units in ending inventory Cost per unit Ending Inventory Beginning inventory 149 $ 6.00 $ 894 91 $ 6.00 $ 546 Purchases January 20 January 30 69 $5.00 345 64 $ 5.00 320 5 $ 5.00 25 180 $ 4.50 810 Total 398 $ 2,049 1551 $ 866 5 S 25 Weighted Average > Required: Determine the cost assigned to ending inventory and to cost of goods sold using (a specific identification, (b) weighted average, (c) FIFO, and (d) LIFO. Complete this question by entering your answers in the tabs below. Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. Note: Round cost per unit to 2 decimal places. b) Weighted average - Periodic Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Average Cost per unit Cost of Goods Available for of units sold Sale Average Cost per Unit Cost of Goods Sold of units in ending inventory Average Cost per unit Ending Inventory 149 S 854 Beginning inventory Purchases January 20 69 345 January 30 180 810 Total 390 2,049 S Specific FIFO >> FIFO, and (d) LIFO. Complete this question by entering your answers in the tabs below. Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. c) Periodic FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory of units Cost per unit Cost of Goods Available for Sale #of units sold Cost per unit Cost of Goods Sold of units in ending inventory Cost per unit Ending inventory 149 6.00 $ 894 Beginning inventory Purchases January 201 09 5.00 345 January 301 180 4,50 810 Total 398 S 2.049 S 0 $ LIFO Required: Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c) FIFO, and (d) LIFO. Complete this question by entering your answers in the tabs below. Weighted Specific Id FIFO urb Average Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. d) Periodic LIFO Cost of Goods Available for Sale Cost of Goods Sold # of units Cost per unit Cost of Goods Available for Sale #of units sold Cost per unit Cost of Goods Sold of units in ending Inventory Ending Inventory Cost per unit Ending Inventory Beginning inventory 149 6.00 $ 894 Purchases: January 201 69 5.00 345 January 30 180 4.50 810 Total 308 $ 2,049 0 $ $ FIFO