Required information Use the following information for the Exercises below. [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 Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 230 unitse $15.50 - $ 3,565 Jan. 10 Sales 180 units e$24.50 Jan. 20 Purchase 190 unitse $14.50 - 2,755 Jan. 25 Sales 220 units $24.50 Jan. 30 Purchase 360 unitse $14.00 - 5,040 Totals 780 units $11,360 400 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 380 units, where 360 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. Exercise 5-3 Perpetual: Inventory costing methods LO P1 Required: 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. Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. (Round cost per unit to 2 decimal places.) Perpetual FIFO: Required: 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. Required 1 Required 2 Required 3 Required 4 Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. (Round cost per unit to places.) Specific Identification Available for Sale Purchase Date Activity Units Unit Cost Jan. 1 Jan. 20 Jan. 30 233 Beginning inventory Purchase Purchase Cost of Goods Sold Ending Inventory Units Ending Ending Sold Unit Cost Cost Per COGS Inventory- Unit Inventory- Units Cost 215 5 15.50 $ 3,333 15 S 15.50 $ 185 $ 14.50 $ 2,683 5 $ 1450 $ 73 0 360 $ 14.00 $ 5,040 400 $ 6,016 380 $ 5,346 230 $ 15.50 190 $ 14.50 360 $ 14.00 780 Required 1 Required 2 > Required information 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. Required 1 Required 2 Required 3 Required 4 Cost per Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal pl Weighted Average - Perpetual: Goods Purchased Cost of Goods Sold Inventory Balance #of #of Date units Cost per Cost of Goods units Cost per unit Inventory unit # of units sold Sold unit Balance January 1 230 $ 15.50 $ 3,565.00 January 10 180 @ $ 15.50 $ 2.790.00 50 $ 15.50 $ 775.00 January 20 1901 $ 14.50 50 $15.50 $ 775.00 190 @ $ 14.50 - 2.755.00 Average cost 240 @ $ 14.70 $ 3,530.00 January 25 220 @ S 14.70 $ 3.234.00 20 @ 14.70 - $ 294.00 January 30 360 @ 14.00 20 $14.70 $ 294.00 360 @ $ 14.00 5,040.00 Totals $ 6,024,00 $ 5,334.00 380 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. (Round cost per unit to 2 decimal places.) Perpetual FIFO: Goods Purchased Cost of Goods Sold Inventory Balance # of Date Cost # of units Cost Cost of Goods units Cost per per unit Inventory sold per unit # of units Sold unit Balance January 1 230 $15.50 $ 3,565.00 January 10 180 @ $15.50 - $ 2,790.00 50 $15.50 - $ 775.00 January 20 190 $ 14.50 50 $15.50 $ 775.00 190 $14.50 2.755.00 $ 3,530,00 January 25 50 $15.50 - $ 775.00 ol $ 15.50 $14.50 0.00 $ 14.50 - $ 775.00 January 30 360 $14.00 $ 15.50 $ 14.50 $ 14.00 Totals Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. (Round cost per unit to 2 decimal places.) Perpetual LIFO: Goods Purchased Cost of Goods Sold Inventory Balance #of Cost # of units Cost Cost of Goods Cost per Inventory units # of units sold per unit Sold unit Balance January 1 230 @ $ 15.50 $ 3,565.00 Date per unit January 10 January 20 January 25 January 30 Totals