Required Information Use the following information for the Exercises 3-7 below. (Static) [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 Jan. 1 Beginning inventory Jan. 18 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost Units sold at Retail 140 units @ $6.00 = $ 840 100 units @ $ 15 60 units @ $5.00 380 80 units @ $ 15 180 units @ $4.50 810 380 units $1,950 188 units Specific id Weighted FIFO LIFO Average Determine the cost assigned to ending inventory and to cost of goods sold using specific identification. For specific identification, ending inventory consists of 200 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. a) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost per Cost of Goods # of units Cost per # of units Available for Cost of Cost # of units Ending unit Goods Sold in ending inventory per unit Inventory Beginning inventory 140 $ 6.00 840 Purchases: unit sold Sale $ Jan. 20 60 $ 5.00 300 Jan. 30 180 $ 4.50 810 Total 380 S 1,950 S $ 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) Periodio LIFO Cost of Goods Available for Sale Cost of Goods Sold Cost of Goods # of units Cost per Cost of # of units Cost per Available for sold Goods Sold Sale Beginning inventory 8.00 840 Ending Inventory # of units in ending Cost Ending inventory per unit Inventory unit unit 140 S Purchases: Jan. 20 60 5.00 300 Jan. 30 180 4.50 810 Total 380 S 1.950 0 S 0 S 0