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 sold at Activities Units Acquired at Cost Retail Jan. 1 Beginning inventory 140 units & $6.00 - $ 840 100 units $15 Jan. 20 Purchase 60 units @ $5.00 - 300 80 units @ $15 Jan. 30 Purchase 180 units @ $4.50 - 810 380 units $1,950 180 units Date Jan. 10 Sales Jan. 25 Sales Totals The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 200 units, where 180 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 equired: Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. . Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. 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 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. (Round cost per un places.) Specific Identification Available for Sale Cost of Goods Sold Ending Inventory Units Ending Cost Per Ending Unit Purchase Date Activity Units Cost Sold Unit Cost COGS Inventory- Unit Inventory- Units Jan. 1 Beginning inventory Jan. 20 Purchase 60 Jan. 30 Purchase 180 Cost 140 380 0 S 0 0 S 0 Required 1 Required 2 Required 3 Required 4 Cost per Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to Weighted Average - Perpetual: Goods Purchased Cost of Goods Sold Inventory Balance # of # of Date Cost per Cost of Goods Cost per units # of units Inventory units sold unit Sold unit Balance January 1 $ 6.00 = $ 840.00 January 10 January 20 unit 140 l Average cost January 25 January 30 Totals 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 of Goods Sold Inventory Balance # of Date Cost # of units Cost Cost of Goods Cost units Inventory per unit units sold per unit per unit Balance January 1 140 @ $ 6.00 - S 840.00 January 10 # Sold January 20 January 25 January 30 Totals 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 Cost of Goods Sold Inventory Balance # of Date Cost # of units Cost Cost of Goods Cost Inventory units # of units per unit sold per unit Sold per unit Balance January 1 140 @ $ 6.00 = $840.00 January 10 January 20 January 25 January 30 Totals