Specific Id Weighted Average FIFO LIFO 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 Purchase Date Ending Cost Per #of units Ending Activity # of units Cost Per Unit COGS Inventory Cost Per Unit Unit sold Units Inventory. Cost January 1 Beginning inventory 175 January 20 Purchase 130 January 30 Purchase 275 580 RE Weighted Average > Specific Id Weighted Average FIFO LIFO 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 Cost of Goods Sold Inventory Balance Date # of units Cost per # of units Cost per Cost of Goods # of units unit sold unit Sold Cost per unit Inventory Balance January 1 175 at $ 10.00 = $ 1.750,00 January 10 January 20 Average cost January 20 January 25 January 30 Totals Inventory Balance Perpetual FIFO: Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Goods Purchased # of units Cost per unit Date Cost per inventory Balance # of units unit 01:57:32 175 at $ 10.00 - $ 1.750.00 January 1 January 10 Book ferences January 20 Total January 20 January 25 Total January 25 January 30 Totals Perpetual LIFO: Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Goods Purchased # of units Cost per unit Date Cost per # of units Inventory Balance Inventory Balance unit $ 10.00 - $ 1,750.00 17 January 1 175 at January 10 tes January 20 Total January 20 January 25 Total January 25 January 30 Totals Required information [The following information applies to the questions displayed below.) Laker Company reported the following January purchases and sales data for its only product. The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 275 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory Date Activities Units Acquired at Cost Units sold at Retail January 1 Beginning inventory 175 units @ $ 10.00 $ 1,750 January 10 Sales 135 units @ $ 19.00 January 20 Purchase 130 units @ $ 9.00 - 1,170 January 25 Sales 140 units @ $ 19.00 January 30 Purchase 275 units @ $ 7.00 = 1,925 Totals 580 units $ 4,845 275 units 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