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Required information [The following information applies to the questions displayed below.] 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 165 units@ $9.00 = $1, 485 Jan. 10 Sales 125 units @ $18.00 Jan. 20 Purchase 110 units@ $8.00 = 880 Jan. 25 Sales 125 units @ $18.00 Jan. 30 Purchase 230 units@ $7.50 = 1, 725 Totals 505 units $4 , 090 250 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 255 units, where 230 are from the January 30 purchase, 5 are from the January 20 purchase, and 20 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. (Round cost per unit to 2 decimal places.) Specific Identification Available for Sale Cost of Goods Sold Ending Inventory Ending Cost Per Ending Activity Units Unit Units Purchase Date Sold Unit Cost COGS Inventory- Inventory- Cost Units Unit Cost Jan. 1 Beginning inventory 165 Jan. 20 Purchase 110 Jan. 30 Purchase 230 505Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal places.) Weighted Average - Perpetual: Goods Purchased Cost of Goods Sold Inventory Balance # of # of Date Cost per Cost per Cost of Goods Inventory unit unit Sold # of units Cost per units units unit Balance sold January 1 165 @ $ 9.00 $ 1,485.00 January 10 January 20 Average cost January 25 January 30 TotalsRequired 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. (Round cost per unit to 2 decimal places.) Perpetual FIFO: Goods Purchased Cost of Goods Sold Inventory Balance Date # of Cost per # of units Cost per Cost of Goods # of units Cost per Inventory units unit sold unit Sold unit Balance January 1 165 @ $ 9.00 $ 1,485.00 January 10 January 20 January 25 January 30 TotalsRequired 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. (Round cost per unit to 2 decimal places.) Perpetual LIFO: Goods Purchased Cost of Goods Sold Inventory Balance # of Date Cost per # of units Cost per Cost of Goods # of units Cost per Inventory units unit sold unit Sold unit Balance January 1 165 @ $ 9.00 $ 1,485.00 January 10 January 20 January 25 January 30 Totals