! 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 perpetual inventory system. For specific identification, ending inventory consists of 210 units from the January 30 purchase, 5 units from the January 20 purchase, and 30 units from beginning inventory. Units sold at Retail Units Acquired at Cost 155 units @ $ 8.00 = $ 1,240 115 units @ $ 17.00 Date January 1 January 10 January 20 January 25 January 30 Activities Beginning inventory Sales Purchase Sales Purchase 90 units @ $ 7.00 = 630 95 units @ $ 17.00 210 units @ $ 6.50 = 1,365 $ 3,235 Totals 455 units 210 units Weighted Average - Perpetual: Cost of Goods Sold Goods Purchased Inventory Balance Date Cost per # of units # of units sold Cost per unit Cost of Goods Sold # of units unit Cost per unit Inventory Balance January 1 155 at $ 8.00 = $ 1,240.00 January 10 115 at $ 8.00] = $ 920.00 40 at $ 8.00] = $ 320.00 90) at $ 7.00 40 at $ 8.00 = $ 320.00 January 20 90 at $ 7.00 II = 630.00 Average cost January 20 130 at $ 7.31 950.00 $ $ January 25 95) at $ 7.40 = $ 703.00 5 at $ 7.00] = 35.00 January 30 Totals $ FA 1,623.00 Perpetual FIFO: Date Goods Purchased Cost per # of units unit Cost of Goods Sold # of units Cost of Goods sold unit Sold Cost per Inventory Balance Cost per unit Inventory Balance # of units January 1 155 at $ 8.00 II = $ 1,240.00 January 10 115 at $ 8.00 = II $ $ 920.00 40 at $ 8.00 = $ 320.00 90 at $ 7.00 at $ 8.00 II = $ 200.00 January 20 at $ 7.00 Total January 20 $ 200.00 at $ 8.00 II = $ 0.00 at $ 8.00 January 25 at $ 7.00 = 0.00 at $ 7.00 = Total January 25 January 30 Totals Perpetual LIFO: Inventory Balance Date Goods Purchased Cost per # of units unit Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold # of units Cost per unit Inventory Balance January 1 155 at $ 8.00 $ 1,240.00 January 10 January 20 Total January 20 January 25 Total January 25 January 30 Totals