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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. The Company

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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. The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 290 units from the January 30 purchase, 5 units from the January 20 purchase, and 20 units from beginning inventory. Date Activities Units Acquired at Cost Units sold at Retail January 1 Beginning inventory 195 units @ $ 12.80 = $ 2,340 January 10 Sales 155 units @ $ 21.00 January 20 Purchase 120 units @ $ 11.00 1,320 January 25 Sales 135 units @ $ 21.00 January 30 Purchase 290 units@ $ 10.50 3,045 Totals 605 units $ 6,705 290 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. 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. 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 dentification Available for Sale Cost of Goods Sold Ending Inventory Purchase Date Activity Ending # of units Cost Per # of units Unit Cost Per Unit sold COGS Inventory Ending Cost Per Unit Units Inventory. Cost January 1 Beginning inventory 195 $12.00 January 20 Purchase 120 $ 11.00 January 30 Purchase 290 $ 10.50 605 0 $ 0 0 $ De Weighted Average >

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