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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. For specific identification, ending inventory consists of 310 units from the January 30 purchase, 5 units from the January 20 purchase, and 30 units from beginning inventory. Assume the perpetual inventory system is used. \begin{tabular}{|c|c|c|c|} \hline \begin{tabular}{c} Specific \\ Identification \end{tabular} & \begin{tabular}{c} Weighted \\ Average \end{tabular} & FIFO & LIFO \\ \hline \end{tabular} Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|} \hline \multicolumn{10}{|c|}{ Specific Identification } \\ \hline \multirow[b]{2}{*}{ Purchase Date } & \multicolumn{3}{|c|}{ Available for Sale } & \multicolumn{3}{|c|}{ Cost of Goods Sold } & \multicolumn{3}{|c|}{ Ending Inventory } \\ \hline & Activity & \# of units & \begin{tabular}{l} Cost Per \\ Unit \end{tabular} & \begin{tabular}{l} \# of units \\ sold \end{tabular} & Cost Per Unit & \begin{tabular}{l} Cost of \\ Goods \\ Sold \end{tabular} & \begin{tabular}{l} Ending \\ Inventory- \\ Units \end{tabular} & Cost Per Unit & \begin{tabular}{l} Ending \\ Inventory-Cost \end{tabular} \\ \hline January 1 & Beginning inventory & 205 & & & & & & & \\ \hline January 20 & Purchase & 140 & & & & & & & \\ \hline \multirow[t]{2}{*}{ January 30} & Purchase & 310 & & & & & & & \\ \hline & & 655 & & 0 & & $ & 0 & & $ \\ \hline \end{tabular} Specific identification Weighted Average Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. Note: Round cost per unit to 2 decimal places. Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. etermine the cost assigned to ending inventory and to cost of goods sold using LIFO

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