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 Unit Acquired at Cost 175 units @ $10.00 - $1,750 Date Activities Jan. 1 Beginning Inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales 135 units @ $19.00 130 units@ $9.00 1,170 140 units @ $19.00 Jan. 30 Purchase 250 units $8.50 555 units 2.125 $5,045 275 units Totals The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 280 units, where 250 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory 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 Specific Identification Available for Sale Cost of Goods Sold Units Ending Inventory Ending Ending Cost Per Inventory Inventory Unit Units Cost Purchase Date Activity Units Unit Cost Unit Cost COGS Sold Jan 1 175 Jan 20 Beginning inventory Purchase Purchase 130 Jan 30 250 555 Required Required 2 > Weighted Average - Perpetual: Goods Purchased Cost of Goods Sold Inventory Balance Cost per Cost per # of units # of units sold Date Cost per Cost of Goods unit Sold # of units Inventory Balance unit unit 175 @ $ 10.00 = $ 1,750.00 January 1 January 10 January 20 Average cost January 25 January 30 Totals 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 Inventory Balance Cost per Date Costel Goods Sold of units Cost per Cost of Goods sold Sold of units Cost per of units Inventory Balance un unit January 1 175 e $10.00 - $ 1,750.00 January 10 January 20 January 25 January 30 Totals Powend 2 Perpetual LIFO: Goods Purchased # of units Date Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Cost per Inventory Balance Cost per Inventory # of units unit) Balance 175 @ $ 10.00 - $ 1,750.00 unit January 1 January 10 January 20 January 25 January 30 Totals