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 Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost Units sold at Retail 200 units @ $12.50 - $2,500 160 units @ $21.50 130 units @ $11.50 1,495 140 units @ $21.50 300 units @ $11.00 - 3,300 630 units $ 7,295 300 units Required: The Company uses a periodic inventory system for specific identification, ending inventory consists of 330 units, where 300 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory. Determine the cost assigned to ending inventory and to cost of goods sold using a specific identification, (b) weighted average. (FIFO, and (c) LIFO. Complete this questions by entering your answers in the below tabs. Specific id Weighted FIFO LIFO Average Determine the cost assigned to ending inventory and to cost of goods sold using specific identification. For specific identification, ending inventory consists of 330 units, where 300 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory. a specific Identification Cost of Goods Sold Cost of Goods Available for Sale Cost of Goods of units Cost per Available for unit Sale 200 $12.50 S 2.500 of units Cost per sold unit Cost of Goods Sold Ending Inventory of units Cost In anding Ending inventory per unit Inventory Beginning inwentary Purchases Jan. 20 Jan 30 Total 200 5 2.500 0 s 0 0 $ O