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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 Units sold at Retail Activities Beginning Units Acquired at Cost 150 units@ $7.50 = $1,125 Jan. 1 inventory 110 units @ $16.50 80 units@ $6.50 = 520 Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 90 units @ $16.50 200 units@ $6.00 = 430 units 1,200 $2,845 200 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 230 units, where 200 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 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 e for Sale Cost of Goods Sold Purchase Date Activity Units Unit Cost Units Sold Unit Cost COGS Jan 1 188 150 80 Beginning inventory Purchase Purchase $ $ 7.50 6.50 125 75 $ $ 7.50 8.50 $ $ Ending Inventory Ending Ending Inventory- Coster Inventory- Units Cost 25 $ 7.50 $ 5 $ 8.50 $ 33 200 $ 6.00 $ 1,200 230 $ 1.421 938 488 Jan. 20 Jan. 30 200 $ 6. 000 430 200 $ 1.428 (Required 1 Required 2 > 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 Activities Beginning Units sold at Retail Units Acquired at Cost 150 units@ $7.50 = $1,125 Jan. 1 inventory 110 units @ $16.50 80 units@ $6.50 = 520 Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 90 units @ $16.50 200 units@ $6.00 = 430 units 1,200 $2,845 200 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 230 units, where 200 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 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 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 Cost per Cost of Goods unit Sold Cost per unit units # of units Cost per Inventory unit Balance sold January 1 150 @ $ 7.50 - $ 1,125.00 110 @ January 10 January 20 Average cost January 25 00@ January 30 Totals 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 sold at Retail Units Acquired at Cost 150 units@ $7.50 = $1,125 Jan. 1 Beginning 110 units @ $16.50 - inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 80 units@ $6.50 = 520 90 units @ $16.50 200 units@ $6.00 = 430 units 1,200 $2,845 200 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 230 units, where 200 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 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 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 # of Cost per units unit Cost of Goods Sold # of units Cost per Cost of Goods sold unit Date Sold Inventory Balance # of units Cost per Inventory unit Balance 150 @ $ 7.50 - $ 1.125.00 January 1 January 10 January 20 January 25 January 30 Totals {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 sold at Retail Units Acquired at Cost 150 units@ $7.50 = $1,125 Jan. 1 Beginning 110 units @ $16.50 80 units@ $6.50 = 520 inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 200 units@ $6.00 = 430 units 1,200 $2,845 90 units @ $16.50 200 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 230 units, where 200 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 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 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 # of Cost per units unit Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Date Inventory Balance | # of units Cost per Inventory unit Balance January 1 150 @ $7.50 = $ 1.125.00 January 10 January 20 January 25 January 30 Totals

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