ch 05 ex 5-3

Required information Use the following information for the Exercises 3-7 below. (Algo) The following information applies to the questions displayed belowj- Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending irventory consists of 340 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Exercise 5-3 (Algo). Perpetual: Inventory costing methods LO P1 Assume the perpetual inventory system is used: 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 FFO. 4. Determine the cost assigned to ending inventory and to cost of goods sold using L.FO. Complete this question by entering your answers in the tabs below. omplete the table to determine the cost assigned to ending inventory and cost of goods soid using specific identification. Determine the cost assigned to eniding inventory and to cost of goods sold using welghted average. Note: Round cost per unit to 2 decimal places. Required information (1) Required information