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 sold at Retail Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost 220 units @ $14.50 - $3,190 170 units@ $13.50 - 2,295 170 units @ $23.50 200 units @ $23.50 340 units @ $13.00 - 730 units 4,420 $9,905 370 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 360 units, where 340 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. 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 co- places.) Specific Identification Available for Sale Cost of Goods Sold Ending Inventory Ending Unit Ending Units Cost Per Purchase Date Activity Units Unit Cost COGS Inventory Cost Inventory Sold Unit Units Cost Jan 1 Beginning inventory 220 Jan 20 Purchase 170 Jan. 30 Purchase 340 730 Required 2 > 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 uni Weighted Average - Perpetual: Goods Purchased Cost of Goods Sold Inventory Balance Cost per #of units # of units sold Date Cost per Cost of Goods unit Sold Cost per unit # of units Inventory Balance unit 220 $ 14.50 = $ 3.190.00 January 1 January 10 January 20 Average cost January 25 January 30 Totals 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 plac Perpetual FIFO: Goods Purchased Cost of Goods Sold Inventory Balance Cost per Cost per Date #of units Cost per unit # of units sold Cost of Goods Sold # of units Inventory Balance unit unit January 1 220 @ $ 14.50 = $ 3.190.00 January 10 January 20 January 25 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 Date # of units Cost per Cost of Goods # of units Cost per Inventory units unit sold unit Sold unit Balance January 1 220 $ 14.50 = $ 3,190.00 Cost per January 10 January 20 January 25 January 30