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 130 units @ $11.50 = 1,495 140 units @ $21.50 300 units @ $11.00 = 630 units 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 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 questions by entering your answers in the below tabs. 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. Specific Identification Complete this questions by entering your answers in the below tabs. 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. Specific Identification Available for Sale Cost of Goods Sold Units Unit Cost COGS Sold Ending Inventory Ending Cost Per Ending Inventory Inventory- Units Unit Cost Purchase Date Activity Unit Cost Units Jan. 1 Beginning inventory Purchase Purchase Jan. 20 200 $ 12.50 130 $ 11.50 Jan. 30 300 $ 11.00 630 0 $ 0 $ Complete this questions by entering your answers in the below tabs. 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.) Weighted Average - Perpetual: Goods Purchased # of Cost per Date units unit Inventory Balance # of units sold Cost of Goods Sold Cost per Cost of Goods unit Sold # of units Cost per unit Inventory Balance January 1 200 @ $ 12.50 = $2,500.00 January 10 January 20 Average cost January 25 January 30 Totals Complete this questions by entering your answers in the below tabs. 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 Cost of Goods Sold Inventory Balance # of Cost per # of units Cost Cost of Goods Date Cost # of units Inventory units unit sold per unit Sold per unit Balance $ January 1 $ 12.50 = 2,500.00 January 10 200 @ January 20 January 25 January 30 Totals 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 Cost of Goods sold per unit Sold Date Inventory Balance Cost # of units Inventory per unit Balance $ 200 @ $ 12.50 = 2,500.00 January 1 January 10 January 20 January 25 January 30 Totals