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 204 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 19 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 142 units @ $6.00 = $ 852 98 units @ $15.00 62 units @ $5.00 - 310 82 units @ $15.00 180 units @ $4.50 - 810 384 units $1,972 180 units Exercise 5-3 (Algo) Periodic: Inventory costing methods LO P1 Required: Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (C) FIFO, and (c) 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 specific identification. For specific identification, ending 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 specific identification. For specific identification, ending inventory consists of 204 units, where 1 are from the January 30 purchase, 5 are from the January 20 purchase, and 19 are from beginning inventory. a) Specific Identification Ending Inventory Cost of Goods Available for Sale Cost of Goods # of units Cost per Available for unit Sale 142 $ 6.00 $ 852 Cost of Goods Sold # of units Cost per cost of Goods # of units in sold unit ending Sold inventory Cost per unit Ending Inventory Beginning inventory Purchases: Jan. 20 Jan. 30 Total 62 $ 5.00 310 98 $ 5.00 490 180 $ $ 4.50 810 0 384 $ 1,972 98 $ 490 0 $ 0 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. (Round cost per unit to 2 decimal places.) b) Weighted average - Periodic Ending Inventory Cost of Goods Available for Sale Cost of Goods # of units Average Cost Available for Sale 142 $ 852 Cost of Goods Sold Average of units Cost per Cost of Goods sold Sold Unit of units in ending inventory Average Cost per unit Ending Inventory per unit Beginning inventory Purchases: Jan. 20 62 310 Jan. 30 180 810 Total 384 $ 1,972 $ 0 $ 0 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 Cost per # of units Cost of Goods Available for Sale # of units sold Cost per unit Ending Inventory # of units in Cost per ending unit inventory Cost of Goods Sold unit Ending Inventory 142 6.00 $ 852 Beginning inventory Purchases: Jan. 20 62 5.00 310 Jan. 30 180 4.50 810 Total 384 $ 1,972 0 $ 0 0 $ 0 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 LIFO. d) Periodic LIFO Cost of Goods Available for Sale Cost of Goods Sold Cost per Cost per unit # of units Cost of Goods Available for Sale # of units sold Cost of Goods Sold Ending Inventory # of units in Cost per Ending ending unit Inventory inventory unit Beginning inventory 142 6.00 $ 852 Purchases: Jan. 20 62 5.00 310 Jan. 30 180 4.50 810 Total 384 $ 1,972 0 $ 0 0 $ 0