1 o 28 points 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. Date Activities Units Acquired at Cast Units sold at Retail Jan. 1 Beginning inventory 160 units@ $8.50 = $1,360 Jan. 10 Sales 120 units @ $17.50 Jan. 20 Purchase 100 units@ $7.50 = 750 Jan. 25 Sales 120 units @ $17.50 @ Jan. 30 Purchase 220 units@ $7.00 = 1,540 Totals 480 units $3,650 240 units cBook Hint Ask The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 240 units, where 220 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning Inventory. Print Exercise 5-3 Perpetual: Inventory costing methods LO P1 Roterences 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 cast 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 4 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 Inventory Balance Date # of units Cost per Cost of Goods Sold Cost per Cost of Goods unit Sold #of units sold unit # of units Cost per unit Inventory Balance January 1 160 @ $ 8.50 $ - $ 1,360.00 120 @ $ 17.50 = $2,100.00 January 10 January 20 $ 7.50 $ 7.50 Average cost Complete this question by entering your answers in the tabs below. Ask Required 1 Required 2 Required 3 Required 4 Print Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal places.) References Weighted Average - Perpetual: Goods Purchased Cost of Goods Sold Inventory Balance Cost per Cost per Date # of units # of units sold Cost per Cost of Goods unit Sold # of units Inventory Balance unit unit January 1 160 @ $ 8.50 = $ 1,360.00 January 10 1201 a $ 17.50] = $ 2,100.00 January 20 $ 7.50 $ 7.50 = Average cost January 25 January 30 Totals $ 2,100.00