Check 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. Units Acquired at Coat 180 unitse $10.50 - $1,890 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 110 units $ 9.50 - 1,045 Units sold at Retail 140 units $19.50 130 units $19.50 270 units 260 unitse $ 9.00 550 units 2,340 $5,275 The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 280 units, where 260 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. Exercise 5-3 Perpetual: Inventory costing methods LO P1 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. Required information WELCTRIC ULUD One w runiy Very CU LULUSL U yuuus VI HURUI per un Perpetual FIFO Goods hased Cost of Goods Sold Cost per Dato of units unit # of units sold Cost per unit Cost of Goods Sold Inventory Balance Cost per #of units Inventory unit Balance 180 @ $10.50 = $ 1,890.00 January 1 140 @ $ 10.50 $ 1,470.00 401 $ 10.50 $ 420.00 January 10 January 20 110 @ $ 9.50 401 $ 10.50 = $ 420.00 110 $ 9.50 = 1,045.00 $ 1.465.00 January 25 40 @ $ 10.50 #1 $ $ 10.50 $ 315,00 420.00 0.00 30 @ 280 @ $ 9.50 = $ 9.50 = $ 2,660.00 $ 2,975.00 $ 420.00 January 30 Totals Required information Perpetual LIFO: Goods Purchased #of Cost per units unit Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Inventory Balance Cost per Inventory # of units unit Balance Dato January 1 180 @ $ 10.50 = $ 1,890.00 January 10 January 20 110 @ $ 9.50 @ $ 9.50 January 25 January 30 Totals