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[The following information applies to the questions displayed below.) Laker Company reported the following January purchases and sales data for its only product. Date Activities

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[The following information applies to the questions displayed below.) Laker Company reported the following January purchases and sales data for its only product. Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost Units sold at Retail 140 units @ $6.00 - $ 840 100 units $15 60 units @ $5.00 - 300 se units @ $15 180 units @ $4.50 - 810 380 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 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 question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. (Round cost per unit to 2 decimal places.) Specific Identification Available for Sale Unit Cost of Goods Sold Ending Inventory Units Ending Cost Per Ending Unit Cost COGS Inventory Sold Unit Inventory Cost Purchase Date Activity Units Cost | Jan I [Jan 20 Jan 30 Beginning inventory Purchase Purchase 140 60 100 380 Required 2

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