Laker Company reported the following January purchases and sales data for its only product. For specific...

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Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of 260 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory. Date January 1 Activities January 10 Beginning inventory Sales Units Acquired at Cost 170 units @ $ 9.50 = Units sold at Retail $ 1,615 130 units @ $ 18.50 January 20 January 25 January 30 Purchase Sales Purchase 120 units @ $ 8.50 = 1,020 130 units @ $ 18.50 Totals 260 units @ 550 units $ 8.00 = 2,080 $ 4,715 260 units Assume the perpetual inventory system is used. 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. Specific Identification Weighted Average FIFO LIFO Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. Specific Identification Available for Sale Cost of Goods Sold Ending Inventory Purchase Date Activity # of units Cost Per Unit # of units sold Cost Per Unit Cost of Goods Sold Ending Inventory- Units Cost Per Unit Ending Inventory-Cost January 1 Beginning inventory 170 Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of 260 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory. Date January 1 Activities January 10 Beginning inventory Sales Units Acquired at Cost 170 units @ $ 9.50 = Units sold at Retail $ 1,615 130 units @ $ 18.50 January 20 January 25 January 30 Purchase Sales Purchase 120 units @ $ 8.50 = 1,020 130 units @ $ 18.50 Totals 260 units @ 550 units $ 8.00 = 2,080 $ 4,715 260 units Assume the perpetual inventory system is used. 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. Specific Identification Weighted Average FIFO LIFO Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. Specific Identification Available for Sale Cost of Goods Sold Ending Inventory Purchase Date Activity # of units Cost Per Unit # of units sold Cost Per Unit Cost of Goods Sold Ending Inventory- Units Cost Per Unit Ending Inventory-Cost January 1 Beginning inventory 170