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 periodic inventory system. 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. Units sold at Activities Units Acquired at Coat Retail Jan. 1 Beginning inventory 140 units @ $6.00 - $ 840 100 units $15 Jan. 20 Purchase 60 units $5.00 300 Jan. 25 Sales 80 unito e $ 15 180 units $4.50 Totala 380 units $1,950 180 units Date Jan. 10 Sales Jan. 30 Purchase 810 Exercise 5-3 (Static) 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) welghted average. (d FIFO, and (d) LIFO. Complete this question by entering your answers in the tabs below. Specific id Weighted verane FIFO LIFO Required information 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 invento 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 of Goods w of units # of units Cost per # of units Available for Cost of unit Cost Ending sold in ending Sale unit Goods Sold inventory per unit Inventory Beginning inventory 140 $ 6.00 $ 840 125 $ 6.00 $ 750 15 $ 6.00 $ 90 Purchases Jan. 20 60 $ 5.00 300 55 $ 5.00 275 5 $ 5.00 25 Jan. 30 180 $ 4.50 810 0 180 $ 4.50 810 Total 380 $ 1.950 180 $ 1,025 200 $ 925 Cost per reld Weighted Average > Required information Required: Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification. (b) weighted average. (o FIFO, and () LIFO. Complete this question by entering your answers in the tabs below. LIFO Weighted Specific 10 FIFO 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 b) Weighted average - Periodic Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Average Cost of Goods Average # of units Cost of # of units Average # of units Cost per Available for Cost per Ending sold Cost In ending unit Sale Unit Goods Sold Inventory Inventory per unit Beginning inventory 140 840 Purchases: Jan. 20 60 300 Jan. 30 180 810 Total 380 $ 5.40 S 1,950 180 $ 0.00 $ 0 200 $ 4.59 $ 918 Required information Required: Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification. (b) weighted average. (a FIFO, and (c) LIFO. Complete this question by entering your answers in the tabs below. Specific Id Weighted FIFO LIFO Average Determine the cost assigned to ending Inventory and to cost of goods sold using FIFO. c) Periodic FIFO Cost of Goods Available for Salo Cost of Goods Sold Cost of Goods Cost per # of units Cost per # of units Cost of Available for unit sold unit Sale Goods Sold Beginning inventory 140 6.00 $ 840 01 Purchases: Jan. 20 60 5.00 300 0 Jan 30 180 4.50 810 40 $ 4.50 180 Total 380 $ 1,950 40 $ 180 Ending Inventory # of units Cost In ending Ending Inventory per unit Inventory 140 $ 6.00 $ 840 40 $ 5.00 200 90 20 $ 4.50 200 $ 1.130 Exercise 5-3 (Static) 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 (0) FIFO, and (LIFO. Complete this question by entering your answers in the tabs below. Weighted Specific id Average FIFO LIFOR Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. a) Periodic LIFO Cost of Goods Available for Sale Cost of Goods Sold Cost of Goods Cost per #of units of units Cost per Available for Cost of unit sold unit Sale Goods Sold Beginning inventory 140 6.00 $ 840 0 Purchases: Jan 20 60 6.00 300 Jan. 30 180 4.50 810 Total 380 S 1.950 $ 0 Ending Inventory of units Cost in ending Ending Inventory per unit Inventory 140 $ 6.00 S 840 0 200 401 $ 5.00 20 $ 4.50 200 90 ole $ 1.130