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 Retail Units Acquired at Cost 150 units @ $7.50 = $1,125 110 units @ $16.50 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 520 90 units @ $16.50 80 units @ $6.50 = 200 units @ $6.00 = 430 units 1,200 $2,845 200 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 230 units, where 200 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory. Complete this question by entering your answers in the tabs below. 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 unit to 2 decimal places.) Specific Identification Available for Sale Cost of Goods Sold Purchase Date Activity Units Unit Cost Units Sold Unit Cost COGS Ending Inventory Ending Cost Ending Inventory Per Inventory Units Unit Cost 150 X $ 7.50 $ 1,125 40 S 6.50 $ 260 Jan. 1 Jan. 20 Jan. 30 Beginning inventory Purchase Purchase 150 80 200 430 $ 7.50 $ 6.50 $ 6.00 0 $ 0 190 $ 1,385 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 Cost # of Date per units unit January 1 # of units Cost of Goods Sold Cost Cost of per Inventory Balance Cost Inventory per Balance # of units sold unit Goods Sold unit 150 @ $ 7.50 = $1,125.00 January 10 January 20 Average cost January 25 January 30 Totals 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 of Cost per Cost of Goods Sold # of units Cost Cost of sold per unit Goods Sold Inventory Balance Cost Inventory # of units per Balance Date Date units unit January 1 150 $7.50 = 1.125.00 January 10 January 20 January 25 January 30 Totals 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 Cost # of units Cost of per sold Goods Sold unit # of units Inventory Balance Cost Inventory per Balance Date # of units 150 @ unit January 1 s 7.50 - 0.125.00 1.125.00 January 10 1 January 20 January 25 January 30