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Laker Company reported the following January purchases and sales data for its only product. Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 230 units@ $15.50 = $ 3,565 Jan. 10 Sales 180 units @ $24.50 Jan. 20 Purchase 190 units @ $14.50 = 2,755 Jan. 25 Sales 180 units @ $24.50 Jan. 30 Purchase 360 units @ $14.00 = 5,040 Totals 780 units $11,360 360 units Required: The Company uses a periodic inventory system. For specific identification, ending inventory consists of 420 units, where 360 are from the January 30 purchase, 5 are from the January 20 purchase, and 55 are 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 (C) LIFO. Complete this question by entering your answers in the tabs below. Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using specific identification. For specific identification, ending inventory consists of 420 units, where 360 are from the January 30 purchase, 5 are from the January 20 purchase, and 55 are from beginning inventory. a) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Cost of Goods Cost per # of units Available for # of units Cost per Cost of unit Sale sold Goods Sold unit Ending Inventory # of units Cost in ending Ending inventory per unit Inventory Beginning inventory Purchases: Jan. 20 Jan. 30 Total $ 0 0 $ $ Laker Company reported the following January purchases and sales data for its only product. Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 230 units @ $15.50 = $ 3,565 Jan. 10 Sales 180 units @ $24.50 Jan. 20 Purchase 190 units@ $14.50 = 2,755 Jan. 25 Sales 180 units @ $24.50 Jan. 30 Purchase 360 units @ $14.00 = 5,040 Totals 780 units $11,360 360 units Required: The Company uses a periodic inventory system. For specific identification, ending inventory consists of 420 units, where 360 are from the January 30 purchase, 5 are from the January 20 purchase, and 55 are from beginning inventory. Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (0) FIFO, and (c) LIFO. Complete this question by entering your answers in the tabs below. Specific Id Weighted Average FIFO LIFO 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 Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Average cost of Goods # of units Average # of units Average # of units Cost per Cost of Available for Cost per Ending in ending Goods Sold Cost per sold Inventory unit Sale Unit inventory unit Beginning inventory Purchases: Jan. 20 Jan. 30 Total S 0 $ 0 S 0 0