Required: 1. Complete the table to determine the costs assigned to ending inventory and to cost of goods sold using specific identification. 2. Determine the costs assigned to ending inventory and to cost of goods sold using the weighted average. 3. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. 4. Determine the costs assigned to ending inventory and to cost of goods sold using LIFO.

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 Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Activities Units Acquired at Cost 230 units@ $15.50 3,565 190 units@ $14.5 2,755 360 units@ $14.005,046 Units sold at Retail 180 units $24.50 220 units $24.50 400 units Totals 780 units $11,360 The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 380 units, where 360 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory Required: . Complete the table to determine the costs assigned to ending inventory and to cost of goods sold using specific identification. 2. Determine the costs assigned to ending inventory and to cost of goods sold using weighted average 3. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. 4. Determine the costs 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 costs assigned to ending inventory and to cost of goods sold using specific identification Specific Identification Available for Sale Cost of Goods Sold Ending Inventory Unit Cost Ending Cost Per Inventory Ending Purchase Date Activity Units Unit Cost COGS Inventory Sold Units Cost Jan. 1 Jan. 20 Jan. 30 Beginning inventory Purchase Purchase 230 190 360 780 Required 1 Required 2 Required 3 Required 4 Determine the costs 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 Inventory Balance #of units # of Cost per units Cost per Cost of Goods | |Cost per| Inventory Balance Date # of units unit unit Sold unit sold January 1 January 10 January 20 230S 15.50$3,565.00 Average cost January 25 January 30 Totals Required Required 2 Required 3Required 4 Determine the costs assigned to ending inventory and to cost of goods sold using LIFO Perpetual LIFO: Goods Purchased #of units Cost of Goods Sold Inventory Balance Cost per | unit # of units sold #Of units Costper Inventory unit Cost per Cost of Goods Date unit Sold Balance 15.50 3,565.00 January 1 January 10 January 20 230 @ | $ January 25 January 30 Totals Required 1Required 2Required 3 Required 4 Determine the costs assigned to ending inventory and to cost of goods sold using FIFO Perpetual FIFO: Goods Purchased Inventory Balance #of units Cost per | unit # of units sold Cost per unit Cost of Goods Sold Cost per unit inventory Balance Date # of units 15.503,565.00 January 1 January 10 January 20 January 25 January 30 Totals