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 Date Activities Jan. 1 Beginning inventory Jan. 18 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 80 units@ $6.50 = 520 118 units @ $16.50 90 units @ $16.50 200 units@ $6.00 = 438 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. Weighted Average - Perpetual: Goods Purchased Inventory Balance of of units Date Cost of Goods Sold Cost per Cost of Goods unit Sold Cost per unit units sold # of units Cost per unit Inventory Balance January 1 150 @ $ 7.50 - $ 1,125.00 January 10 January 20 8 0 @ $ 6.50 $ 6.50 80 @ 80er 520.00 520.00 $ Average cost January 25 January 30 200 e s 6.00 6.00 1.200.00 200 $ 200 OL Totals Perpetual FIFO: Goods Purchased # of Cost per units Cost of Goods Sold of units Cost per Cost of Goods sold unit Sold Date unit January 1 Inventory Balance Cost per Inventory # of units unit Balance 150 @ $ 7.50 = $ 1,125.00 90 S 7.50 = S 675.00 80 @ $ 7.50 = $ 600.00 @ $ 6.50 $ 600.00 January 10 120 O S 8.20 - $ 984.00 January 20 80 O $ 6.50 January 25 - $ $ 7.50 $ 6.50 0.00 0.00 $ $ 7.50 6.50 @ @ January 30 Perpetual LIFO: Date Goods Purchased of Cost per Co unit Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Inventory Balance Cost per Inventory # of units unit Balance 150 @ $ 7.50 = $ 1,125.00 January 1 January 10 January 20 January 25 January 30