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[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 155 units @ $8.00 = $1,240 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 90 units @ $7.00 = 630 115 units $17.00 95 units @ $17.00 $6.50 = 210 units @ 455 units 1,365 $3,235 210 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 245 units, where 210 are from the January 30 purchase, 5 are from the January 20 purchase, and 30 are from beginning inventory. 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. Specific Identification Available for Sale Cost of Goods Sold Purchase Date Ending Inventory Ending Ending Inventory Cost Per Inventory- Unit Units Cost Activity Unit Cost Units Units Sold Unit Cost COGS 155 Jan. 1 Jan. 20 Jan. 30 Beginning inventory Purchase Purchase 90 210 455 0 0 Weighted Average - Perpetual: Goods Purchased Inventory Balance # of units Date Cost of Goods Sold # of Cost per units Cost of soldmt unit Goods Sold Cost per unit # of units Cost per Inventory unit Balance $ 8.00 = $1.240.00 155 @ January 1 January 10 January 20 Average cost January 25 January 30 Totals Perpetual FIFO: Goods Purchased # of Cost per 1 units unit Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Date Inventory Balance # of units Cost per Inventory unit Balance 155 @ $ 8.00 = 1.240.00 January 1 January 10 January 20 January 25 January 30 Totals Perpetual LIFO: Goods Purchased # of Cost per units unit Date Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Inventory Balance # of units Cost per Inventory # or units unit Balance January 1 155 @ S 8.00 - 1.240.00 January 10 January 20 January 25 January 30 Totals