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Required Information The following information applies to the questions displayed below.j Laker Company reported the following January purchases and sales data for its only product. Date Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Activities Units sold at Retail 120 unitse $17.50 120 units $17.50 240 units Units Acquired at Cost 160 units $8.50 -$1,360 100 units@ $7.50750 220 units @ $7.00= 1,540 Totals 480 units $3,650 The Company uses a perpetual Inventory system. For specific identification, ending Inventory consists of 240 units, where 220 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 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 questions by entering your answers in the below tabs Required1 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 Available for Sale Cost of Goods Sold Ending Inventory Ending Cost Per Inventory Ending Units Unit Cost Units Sold urchase Date Activity Unit Cost COGS Inventory- Units Cost Jan. 1 Jan. 20 Jan. 30 Beginning inventory Purchase Purchase 160 $ 8.50 100 $ 7.50 220S 7.00 480 Required 2>

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