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2 Required information Use the following information for the Exercises 3-7 below. (Algo) The following information applies to the questions displayed below! Laker Company reported the following January purchases and sales data for its only product. The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 250 units from the January 30 purchase, 5 units from the Jonuary 20 purchase, ond 20 unts from beginning inventory Units sold at Date Activities Units Acquired at cost Retail January Beginning inventory 165 unitses 9.00 - $ 1,485 January Sales 125 units # $ 18.00 January Purchase 110 unitses 8.00- 880 January 25 Sales 125 units # $ 18.00 January Purchase 250 unitae $ 7.50 30 1,875 Totals 525 units $ 4,240 250 units 1 10 20 Exercise 5-3 (Algo) 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 2 Determine the cost assigned to ending inventory and to cost of goods sold using weighted average 3. Determine the cost ossigned 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. Specific Weighted FIFO Id Average LIFO 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 Ending Inventory Purchase Cost #of #of Ending Cost Por Ending Cost Per Dato Per Activity units COGS Inventory units Unit Unit Inventory sold Unit Units Cost January 1 Beginning 165 inventory January 20 Purchase 110 January 30 Purchase 250 525 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. Specific Weighted Id FIFO LIFO Average 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 Date #of Cost Cost per Cost of units Cost per Inventory per # of units units Goods Sold unit unit Balance sold unit January 1 165 at $ 9.00 - $ 1,485.00 January 10 #of January 20 Average cost January 20 January 25 January 30 Totals 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. Specific Weighted FIFO LIFO Id Average Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO: Goods Cost of Goods Sold Inventory Balance Purchased Dato Cost Cost Cost # of units Cost of Inventory # of units per per # of units Goods Sold per sold Balance unit unit unit January 1 165 at = $ 1,485.00 9.00 January 10 January 20 Total January 20 January 25 Total January 25 January 30 Totals 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 ossigned to ending inventory and to cost of goods sold using LIFO. Complete this question by entering your answers in the tabs below. Specific Weighted Id FIFO LIFO Average Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. Perpetual LIFO: Goods Purchased Cost of Goods Sold Inventory Balance Date Cost Cost Cost # of units Cost of Inventory # of units per per # of units sold Goods Sold per Balance unit unit unit $ January 1 165 at $ 1,485.00 9.00 January 10 January 20 Total January 20 January 25 Total January 25 January 30 Totals

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