ercises and Problems i Saved Help Save & Che Use the following information for the Exercises 3-7 below. (Static) The following information applies to the questions displayed below.] Laker Company reported the following January purchases and sales data for its only product. The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 180 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Date Activities Units Acquired at Cost Units sold at Retail January 1 Beginning inventory 140 units $ 6.00 - $ 840 January 10 Sales 100 units @ $ 15 January 20 Purchase 60 units $ 5.00 - 300 January 25 Sales 80 units @ $ 15 January 30 Purchase 180 units $ 4.50 - 810 Totals 380 units $ 1, 950 180 units Exercise 5-6A (Static) Periodic: Inventory costing LO P3 The Company uses a periodic inventory system. For specific identification, ending inventory consists of 180 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c) FIFO, and () LIFO. Complete this question by entering your answers in the tabs below. Weighted Specific Id 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 180 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. a) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending InventoryRequired information The Company uses a periodic inventory system. For specific identification, ending inventory consists of 180 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c FIFO, and (d) LIFO. Complete this question by entering your answers in the tabs below. Weighted Specific Id FIFO LIFO Average Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal places.) b) Weighted average - Periodic Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Average Cost of Goods # of units Average Cost of # of units Average Ending # of units Cost per Available for Cost per in ending sold Goods Sold Cost Inventory unit Sale Unit inventory per unit Beginning inventory Purchases: January 20 January 30 0 Total $ $ The Company uses a periodic inventory system. For specific identification, ending inventory consists of 180 units from the Janua purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c FIFO, and (d) LIFO. Complete this question by entering your answers In the tabs below. Specific Id Weighted FIFO LIFO Average Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. c) Periodic FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost per Cost of Goods # of units Cost per Cost of # of units Cost Ending # of units Available for Goods Sold in ending unit sold unit Inventory Sale inventory per unit Beginning inventory Purchases: January 20 January 30 Total 0 $ Required information The Company uses a periodic inventory system. For specific identification, ending inventory consists of 180 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (q FIFO, and (d) LIFO. Complete this question by entering your answers in the tabs below. Weighted Specific Id FIFO LIFO Average Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. d) Periodic LIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of Goods Cost per #of units Cost per Cost of # of units Cost Ending # of units Available for unit sold unit Goods Sold in ending per unit Inventory Sale inventory Beginning inventory Purchases: January 20 January 30 $ Total $ FIFO