2 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 300 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory. Part 1 of 2 Date 2 points January 1 January 10 January 20 January 25 January 30 Activities Beginning inventory Units Acquired at Cost Units sold at Retail 200 units @$ 12.50- $ 2,500 Sales 160 units $21.50 Purchase Sales Purchase Totals 130 units @ $ 11.50 = 1,495 140 units $ 21.50 300 units $ 11.00- 3,300 630 units $ 7,295 300 units eBook Hint Print References Mc Graw 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 < Prev 2 3 of 5 Next >