art 1 of 2 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 Cost Units sold at Retail Jan. 1 Beginning inventory 170 units@ $9.50 = $1,615 Jan. 10 Sales 130 units @ $18.50 Jan. 20 Purchase 128 units@ $8.50 = 1,020 Jan. 25 Sales 130 units @ $18.50 Jan. 30 Purchase 240 units@ $8.00 - 1,920 Totals 538 units $4,555 260 units eBook Hint The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 270 units, where 240 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory Print Exercise 6-3 Perpetual: Inventory costing methods LO P1 References 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 Required 2 Required 3 Required 4 Complete the table to determine the cost assigned to ending Inventory and cost of goods sold using specific identification. (Rou places.) ok Specific Identification Available for Sale Cost of Goods Sold Purchase Date Activity Unit Cost Units Ending Inventory Ending Ending Inventory- Cost Per Unit Inventory Units Cost Units Sold Unit Cost COGS Jan 1 Jan 20 Jan. 30 Beginning inventory Purchase Purchase 170 $ 9.50 120 240 530 0 $ 0 0 $ 0 Denda Required information Required 1 Required 2 Required 3 Required 4 # of Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 Weighted Average - Ptrpetual: Goods Purchased Cost of Goods Sold Inventory Balance # of Cost per cost of Goods Cost per Inventory units unit Balance January 1 $ 1,615.00 January 10 January 20 Date Cost per units sold unit Sold # of units unit 170 @ $ 9.50 = Average cost January 25 January 30 Totals Required 1 Required 2 Required 3 Required 4 Cost per Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. (Round cost per unit to 2 decimal place Perpetual LIFO: Goods Purchased Cost of Goods Sold Inventory Balance Date # of # of units Cost per Cost of Goods Cost per Inventory units #of units unit sold unit Sold unit Balance January 1 170 @ $ 9.50 - $ 1,615.00 January 10 January 20 January 25 January 30 Totals