0 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 400 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory Date Activities Unito acquired at coat Units sold at Retail January 1 Beginning inventory 230 units $15.50 $ 3,565 January 10 Sales 180 units . $24.50 January 20 Purchase 190 unita $ 14.50 - 2,755 January 25 Sales 220 units $24.50 January 30 Purchase 400 units $14.00 5.600 Total 820 units $ 11,920 400 unita 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 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, and to cost of goods sold using FIFO. Goods Purchased Perpetual FIFO: Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Inventory Balance Date Cost per # of units Cost per unit # of units Inventory Balance unit January 1 230 at $ 15.50 = 3,565.00 January 10 January 20 Total January 20 January 25 Total January 25 January 30 Totals Date Goods Purchased Cost per # of units unit Perpetual LIFO: Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Inventory Balance Cost per # of units unit Inventory Balance January 1 230 at $ 15.50 = $ 3,565.00 January 10 January 20 Total January 20 January 25 Total January 25 5 January 30 Totals