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. The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 180 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Activities Units Acquired at Cost Units sold at Retail January 1 Beginning inventory 140 units @ $6.00 = $ 840 January 10 Sales @ $ 15 January 20 Purchase 60 units $ 5.00 = January 25 January 30 380 units $ 1,950 Date 100 units 300 80 units @ $ 15 Sales Purchase Totals 180 units @ $ 4.50 = 810 180 units Specific Id Weighted FIFO LIFO Average 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 Ending Cost Per # of units Cost Per Activity Cost Per Ending # of units COGS Unit sold Unit Inventory- Unit Inventory Units Cost January 1 Beginning inventory 140 $ 6.00 0 January 20 Purchase 60 $ 5.00 100 $ 5.00 500 January 30 Purchase 180 $ 4.50 80 $ 4.50 360 180 $ 4.50 810 380 180 $ 860 180 $ 810 Specific ld Weighted Average > Perpetual LIFO: Goods Purchased Cost of Goods Sold Cost per Cost per Cost of Goods # of units # of units sold unit unit Sold Date Inventory_Balance Cost per # of units Inventory unit Balance 140 at $ 6.00 = $840.00 January 1 January 10 January 20 Total January 20 January 25 Total January 25 January 30 Totals Goods Purchased Perpetual FIFO: Cost of Goods Sold Cost per Cost of Goods unit Sold Date Cost per # of units sold # of units unit Inventory Balance Cost per Inventory # of units unit Balance 140 at $ 6.00 = $ 840.00 January 1 January 10 January 20 Total January 20 January 25 Total January 25 January 30 Totals Weighted Specific Id FIFO LIFO Average 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 # of Date Cost per Cost per Cost of Goods Cost per Inventory # of units units Sold # of units unit Balance sold January 1 140 at $ 6.00 = $ 840.00 January 10 unit unit January 20 Average cost January 20 January 25 January 30 Totals