[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 Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 155 units & $8.00 - $1,240 Jan. 10 Sales 115 units $17.00 Jan. 20 Purchase 90 unitse $7.00 - 630 Jan. 25 Sales 95 units $ 17.00 Jan. 30 Purchase 210 unitse $6.50 - 1,365 Totals 455 units $3,235 210 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 245 units, where 210 are from the January 30 purchase, 5 are from the January 20 purchase, and 30 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. 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. eBook Complete this question by entering your answers in the tabs below. Hint Print Required 1 Required 2 Required 3 Required 4 eferences Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. (Round cost per unit to places.) Specific Identification Available for Sale Cost of Goods Sold Purchase Date Ending Inventory Ending Cost Per Ending Inventory Unit Inventory. Units Cost Activity Unit Cost Units Units Sold Unit Cost COGS Jan. 1 Jan. 20 Jan 30 Beginning inventory Purchase Purchase 155 $ 8.00 90 $ 7.00 2101 $ 6.501 455 0 $ 0 $ 0 Required Required 2 > 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 Rekuired 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decir Weighted Average - Perpetual: Goods Purchased Cost of Goods Sold Inventory Balance # of # of Date Cost per Cost per Cost of Goods Inventory units Cost per # of units units unit unit Sold unit Balance sold January 1 155 @ $ 8.00 - $ 1,240.00 January 10 115 $ 8.00 $ 920.00 40 @ $ 8.00 320.00 January 20 $ Average cost January 25 95@ $ 7.31 $ 694.45 35 $ 7.31 $ 255.85 LUUTELE IS UUED UV LETU VUUI GHIVES I LAUS VEUW. Required information 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 places.) Perpetual FIFO: Goods Purchased Cost per Cost of Goods Sold # of units Cost per cost of Goods sold unit Sold Cost per Date # of units Inventory Balance Inventory # of units unit Balance 155 @ $ 8.00 = $ 1.240.00 unit January 1 es January 10 January 20 January 25 January 30 Totals Required information 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 #of Cost per unit Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Inventory Balance Cost per Inventory # of units unit Balance 155 @ $ 8.00 = $ 1,240.00 Date units January 1 January 10 January 20 January 25 January 30 Totals