Required information Use the following information for the Exercises below. The following information applies to the questions displayed below] Laker Company reported the following January purchases and sales data for its only product. Units Acquired at Cost 235 units $16.00 - $3,760 Units sold at Retail Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 180 units $15.00 2,700 185 units @ $25.00 200 units @ $25.00 370 units $14.50 785 units 5,365 $11,025 385 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 400 units, where 370 are from the January 30 purchase 5 are from the January 20 purchase and 25 are from beginning inventory Exercise 5-3 Perpetual: Inventory costing methods LO P1 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. Exercise 5-3 Perpetual: Inventory costing methods LO P1 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 questions by entering your answers in the below tabs. 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 Specific Identification Available for Sale Cost of Goods Sold Purchase Date Activity Unit Cost Units Ending Inventory Ending Cost Per Ending Inventory Unit Inventory Units Cost Units Sold Unit Cost COGS Jan 1 Jan 20 Jan 30 Beginning inventory Purchase Purchase 235 $ 16.00 180 $ 15.00 370 $ 14.501 785 0 Required 2 > 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 questions by entering your answers in the below tabs. Required 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 Inventory Balance Date # of units Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Cost per # of units Cost per unit Inventory Balance unit January 1 235 @ $ 16.00 = $3.760.00 January 10 January 20 Average cost January 25 January 30 Totals Required information 1. Complete the table to determine the cost assignea to enaing inventory ana 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 questions by entering your answers in the below tabs. Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending Inventory and to cost of goods sold using FIFO. Perpetual FIFO: Goods Purchased Date # of units Cost per Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Cost per unit Inventory Balance # of units Inventory unit Balance $ 235 5 16.00 3.760.00 January 1 January 10 January 20 January 25 January 30 Totals Required information 1. Complete the table to determine ine cost assigned to enaing inventory and cost of goods sold using specitic 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 questions by entering your answers in the below tabs. Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. Perpetual LIFO: Date Goods Purchased #of units unit Cost per Cost of Goods Sold #of units Cost per Cost of Goods sold unit Sold Cost per Inventory Balance Inventory # of units unit Balance 235 @ 5 16.00 = 3,760 00 January 1 January 10 January 20 January 25 January 30 Totals