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Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below] Laker Company reported the following January purchases and sales data for its only product. Date Activities Units Acquired at Cost Units sold at RetailJan. 1 Beginning inventory 190 units@ $7.00 = $1,330Jan. 10 Sales 150 units a $16.00Jan. 20 Purchase 110 units@ $6.00 = 660Jan. 25 Sales 130 units @ $16.00Jan. 30 Purchase 280 units@ $5.50 = 1,540 Totals 580 units $3,530 280 units [— The Company uses a perpetual inventory system. For specific identi?cation, ending inventory consists of 300 units, where280 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. Exercise 5-3 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 identi?cation.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. Required 1Required 2Required 3Required 4Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. (Round cost per unit to 2 decimalplaces.)Specific IdentificationAvailable for SaleCost of Goods SoldEnding InventoryEndingEndingPurchase DateActivityUnitsUnitUnitsCostSoldUnit CostCOGSInventory-Cost PerUnitsUnitInventory-CostJan. 1Beginning inventory190Jan. 20Purchase110Jan. 30Purchase2805800$00$0 Required 1Required 2Required 3Required 4Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal places.)Weighted Average - Perpetual:Goods PurchasedCost of Goods SoldInventory Balance# ofCost per# ofDateunitsCost perCost of Goods# of unitsCost perInventoryunitsunitsoldunitSoldunitBalanceJanuary 1190 @$ 7.00$ 1,330.00January 10January 20Average costJanuary 25January 30Totals Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. (Round cost per unit to 2 decimal places.)Perpetual FIFO:Goods PurchasedCost of Goods SoldInventory BalanceDate# ofCost per# of unitsCost perCost of GoodsCost perunitsunitsoldunitSold# of unitsInventoryunitBalanceJanuary 1190$ 7.00$ 1,330.00January 10January 20January 25January 30Totals Required 1Required 2Required 3Required 4Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. (Round cost per unit to 2 decimal places.)Perpetual LIFO:Goods PurchasedCost of Goods SoldInventory BalanceDate# ofCost per# of unitsCost perCost of Goods# of unitsCost perInventoryunitsunitsoldunitSoldunitBalanceJanuary 1190@$7.00=$ 1,330.00January 10January 20January 25January 30Totals