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Laker Company reported the following January purchases and sales data for its only product. Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost Units sold at Retail 230 units @ $15.50 = $ 3,565 180 units @ $24.50 190 units @ $14.50 = 2,755 180 units @ $24.50 360 units @ $14.00 - 5,040 780 units $11,360 360 units Required: The Company uses a periodic inventory system. For specific identification, ending inventory consists of 420 units, where 360 are from the January 30 purchase, 5 are from the January 20 purchase, and 55 are from beginning inventory. Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (FIFO, and (c) LIFO. X Answer is not complete. Complete this question by entering your answers in the tabs below. Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using specific identification. For specific identification, ending inventory consists of 420 units, where 360 are from the January 30 purchase, 5 are from the January 20 purchase, and 55 are from beginning inventory. a) Specific Identification Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost Cost of # of Goods units per unit Available for Sale 1$ 230 15.50 s 3,565 # of units sold Cost per unit Cost of Goods Sold Ending Inventory # of units Cost in ending per inventory unit S 15 X 15.50 215 XS 15.50 $ 3,333 $ 233 Beginning inventory Purchases: Jan. 20 190 2,755 185 S 14.50 2,683 5 5 73 $ 14.50 $ 14.00 S 14.50 $ 14.00 Jan. 30 5,040 360 5,040 360 780 0 0 400 Total S 11,360 $ 6,016 380 $ 5,346 S Specific Id Weighted Average Laker Company reported the following January purchases and sales data for its only product. Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost Units sold at Retail 230 units @ $15.50 = $ 3,565 180 units @ $24.50 190 units@ $14.50 = 2,755 180 units @ $24.50 360 units @ $14.00 = 5,040 780 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, (FIFO, and (c) LIFO. Complete this question by entering your answers in the tabs below. Specific Id Weighted Average FIFO LIFO Cost per Goods Sold 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 Average # of units Cost per # of units Cost of # of units Average Available for sold Ending in ending Cost per unit Sale Inventory Unit inventory unit Beginning inventory 230 S 3,565 Purchases: Jan. 20 190 2,755 Jan. 30 360 5,040 Total 780 S 11,360 380 $ $ $ 0 5.345.00 0