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 234 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 49 are from beginning Inventory. Date Activities Jan. 1 Beginning inventory Jan. 1e Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost 157 units @ $6.00 - $942 77 units @ $5.00 = 385 Units sold at Retail 83 units@ $15.00 97 units @ $15.00 819 180 units @ $4.50 = 414 units $2,137 180 units Exercise 5-5A (Algo) Perpetual: Inventory costing LO P3 1. Complete the table to determine the cost assigned to ending Inventory and cost of goods sold using specific Identification. 2. Determine the cost assigned to ending Inventory and to cost of goods sold using weighted average. 3. Determine the cost assigned to ending Inventory and to cost of goods sold using FIFO. 4. Determine the cost assigned to ending Inventory and to cost of goods sold using LIFO. Complete this question by entering your answers in the tabs below. Specific id Weighted Average FIFO LIFO Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. Specific Identification Available for Sale Cost of Goods Sold Ending Inventory Purchase Date Cost Per Ending # of units Activity # of units Ending Unit Cost Per Unit COGS Inventory- Cost Per Unit sold Inventory- Cost Units Jan. 1 Beginning inventory 157 Jan. 20 Purchase 77 Jan. 30 Purchase 180 414 1. Complete the table to determine the cost assigned to ending Inventory and cost of goods sold using specific Identification. 2. Determine the cost assigned to ending Inventory and to cost of goods sold using weighted average. 3. Determine the cost assigned to ending Inventory and to cost of goods sold using FIFO. 4. Determine the cost assigned to ending Inventory and to cost of goods sold using 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. (Round cost per unit to 2 decimal places.) Weighted Average - Perpetual: Goods Purchased Cost of Goods Sold Inventory Balance Cost per Cost per Date # of units # of units sold Cost of Goods Sold unit unit # of units Cost per unit Inventory Balance January 1 1571 S 6.00 = S 942.00 January 10 January 20 Average cost January 25 January 30 Totals Perpetual FIFO: Goods Purchased # of units unit Cost per Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Inventory Balance Cost per unit Inventory Balance Date # of units January 1 157 @ $ 6.00 - $ 942.00 January 10 January 20 January 25 January 30 Totals Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. Perpetual LIFO: Inventory Balance Goods Purchased # of units unit Cost per Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Date # of units Cost per unit Inventory Balance January 1 157 @ $ 6.00 = S 942.00 January 10 January 20 January 25 January 30 Totals