Homework Problems i Saved Help Save & Ex Check Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of 275 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory. Date Activities Units Acquired at Cost Units sold at Retail January 1 Beginning inventory 175 units @ $ 10.00 = $ 1, 750 January 10 Sales 135 units @ $ 19.00 January 20 Purchase 130 units @: $ 9.00 = 1, 170 January 25 Sales 140 units $ 19.00 January 30 Purchase 275 units @ $ 7.00 = 1, 925 Totals 580 units $ 4, 845 275 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 Weighted Prey 2 of 6 Next >er 6: Homework Problems i Saved Help Save & Exit Submit Check my work Required information Specific Weighted FIFO LIFO Identification Average 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 Cost Per # of units Cost of Ending Activity # of units Cost Per Unit Goods Ending Unit Inventory- Cost Per Unit sold Inventory- Cost Sold Units January 1 Beginning inventory 175 $ 10.00 25 $ 10.00| $ 250 January 20 Purchase 130 $ 9.00 51 $ 9.00 45 January 30 Purchase 275 $ 7.00 $ 7.00 1,925 275 $ 7.00 1,925 580 275 $ 1,925 305 $ 2,220 Weighted Average > Prey. 1 2 of 6 Next >Saved Help Save & E Chapter 6: Homework Problems i Che Required information Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. Note: Round cost per unit to 2 decimal places. Part 1 of 2 Weighted Average - Perpetual: Goods Purchased Cost of Goods Sold Inventory Balance 16.66 points Date Cost per # of units Cost per Cost of Goods # of units # of units Cost per unit Inventory Balance unit sold unit Sold January 1 175 at $ 10.00 = $ 1,750.00 eBook Hint January 10 135 at $ 10.00 = $ 1,350.00 Print 130 at $ 9.00 at January 20 130 at $ 9.00 = 1,170.00 References Average cost January 20 130 at $ 1,170.00 January 25 275 at $ 7.00 January 30 275 at $ 7.00 = 1,925,00 Totals $ 1,350.00 275 at Mc Graw Hill Prev. 1 2 of 6 Next >Chapter 6: Homework Problems i Saved Required information Perpetual FIFO: Part 1 of 2 Goods Purchased Cost of Goods Sold Inventory Balance Date # of units Cost per # of units Cost per Cost of Goods Cost per unit sold unit Sold # of units Inventory Balance unit 16.66 January 1 175 at $ 10.00 = $ 1,750.00 points January 10 eBook January 20 Hint Print Total January 20 References January 25 Total January 25 January 30 Totals Mc Hill Prey 1 2 of 6 Next >Required information Perpetual LIFO: Goods Purchased Cost of Goods Sold Inventory Balance of 2 Date Cost per # of units Cost per Cost of Goods # of units Cost per # of units Inventory Balance unit sold unit Sold unit January 1 175 at $ 10.00 $ 1,750.00 January 10 Book January 20 Hint Total January 20 rences January 25 Total January 25 January 30 Totals Prev 1 2 of 6 Next >