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Required information The following information apples to the questions displayed below! Laker Company reported the following January purchases and sales data for its only product. The Company uses a periodic inventory system For Specific identification, ending inventory consists of 375 units, where 355 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory Date Activities Jan 1 Beginning inventory Jan 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Units Acquired at Cost Units sold at Retail 215 units $14.00 = $3,010 165 units $23.00 160 units $13.00 - 2,050 190 unitse $23.00 355 units@ $12.00 4,260 730 units 59,350 355 units Totals 'equired: Vetermine the cost assigned to ending inventory and to cost of goods sold using (a) specific dentification. (b) weighted average. (FIFO, and (d) LIFO. 3 Answer is not complete. Complete this questions by entering your answers in the below tabs. Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. b) Average Cost Cost of Goods Available for Sale Cost of Goods Sold of units Average Cost per unit Cost of Goods Available for Sale # of units sold Average Cost per Unit Cost of Goods Sold Beginning inventory 215 3,010 Purchases Jan 20 160 2,080 Jan 30 355 4.260 Total 730 9,350

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