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 Cost 175 units@ $10.00 - $1,750 Units sold at Retail Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 130 units@ $ 9.00 - 1,170 135 units $19.00 140 units @ $19.00 250 units $8.50 - 2, 125 555 units $5,045 275 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 280 units, where 250 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory Exercise 6-3 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. 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 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 Unit Cost Units Units Sold Ending Inventory Ending Ending Cost Per Inventory Inventory Unit Unit Cost COGS 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 decima places.) Specific Identification Available for Sale Cost of Goods Sold Purchase Date Ending Inventory Ending Ending Cost Per Inventory Inventory Units Cost Activity Unit Cost Units Units Sold Unit Cost COGS 175 Jan 1 Jan 20 Jan 30 Beginning inventory Purchase Purchase 250 555 0 $ 0 0 $ Required 2 > Cost of Goods Sold Inventory Balance Weighted Average - Perpetual: Goods Purchased Date #fol units unit Cost per Cost per # of units sold Cost per Cost of Goods unit Sold # of units Inventory Balance unit 175 @ $ 10.00 = $ 1,750.00 January 1 January 10 January 20 Average cost January 25 January 30 Totals Required information LLLL Inventory Balance Goods Purchased Hol units unit Cost per Cost of Goods Sold of units Cost per Cost of Goods sold Sold Date of units Cost per Inventory unit Balance $ 10.00 - $ 1,750.00 January 1 175 @ January 10 January 20 January 25 January 30 Totals Perpetual LIFO: Goods Purchased #of units unit Cost per Cost of Goods Sold #of units Cost per Cost of Goods sold unit Sold Cost per Date Inventory Balance Hof units Inventory unit Balance 175 @ $ 10.00 S 1,750.00 January 1 January 10 January 20 January 25 January 30 Totals