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 Date Activities Units Acquired at Cost Retail Jan. 1 Beginning inventory 140 units @ $6.08 = $ 848 Jan. 18 Sales 100 units @ $15 Jan. 20 Purchase 60 units @ $5.00 300 Jan. 25 Sales 80 units @ $15 Jan. 30 Purchase 180 units a $4.50 = 810 Totals 380 units $1,950 180 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 200 units, where 180 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 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 Ending Inventory Ending Unit Ending Units Cost Per Purchase Date Activity Units Unit Cost COGS Inventory Inventory Cost Unit Sold Units Cost Jan 1 Beginning inventory 140 Jan. 20 Purchase 60 Jan 30 Purchase 180 380 Nous 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 pe Cost per Cost of Goods Sold # of Cost per Cost of Goods units unit Sold sold Weighted Average - Perpetual: Goods Purchased # of Date units January 1 January 10 January 20 unit Inventory Balance Cost per Inventory # of units unit Balance 140 @ $ 6.00 = $ 840.00 Average cost January 25 January 30 Totals Perpetual FIFO Goods Purchased Cost of Goods Sold # of units Date Cost per unit # of units sold Inventory Balance Cost per Inventory # of units unit Balance S 140 @ $ 6.00 = 840.00 Cost per Cost of Goods unit Sold January 1 January 10 January 20 January 25 January 30 Totals Determine the cost assigned to ending inventory and to cost of goods solu Perpetual LIFO Goods Purchased # of Cost per units unit Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Inventory Balance Cost per Inventory # of units unit Balance 140 @ $ 6.00 = 840.00 Date January 1 January 10 January 20 January 25 January 30 Totals