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. Units Acquired at Cost 200 units $12.50 - $2,500 Units sold at Retail 160 units @ $21.50 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 140 units @ $21.50 130 unitse $11.50 - 300 units@ $11.00 - 630 units 1,495 3,300 $7,295 300 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 330 units, where 300 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory. Exercise 6-3 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. Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal places.) Inventory Balance Weighted Average - Perpetual: Goods Purchased # of Date Cost per units unit Cost of Goods Sold # of Cost per Cost of units sold unit Goods Sold # of units Cost per unit Inventory Balance January 1 40 @ S 12.50 = S 500.00 Manuary 10 anuary 20 1 00 @ 5 11.50 200 @ S 12.50 = $2,500.00 500 @i 500 @ TL 100 @ 5 11.50 = 1,150.00 600 @ $1,150.00 Average cost Manuary 25 January 30 Totals S 500.00 Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO: Goods Purchased # of Cost per units unit Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Inventory Balance # of units Cost per Inventory # of units unit Balance Date January 1 200 @ 5 12.50 - 2.500.00 January 10 January 20 January 25 January 30 Totals Required 2 Required 4 > Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. Perpetual LIFO: Goods Purchased # of Cost per units unit Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Date Inventory Balance # of units Cost per Inventory 200 @ $12.50 - 2,500.00 January 1 January 10 January 20 January 25 January 30 Totals