Laker Company reported the following January purchases and sales data for its only product. The Company uses a perpetual inventory system. Required: 2. Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. Laker Company reported the following January purchases and sales data for its only product. The Company uses a perpetual inventory system. 3. Determine the cost assigned to ending inventorv and to cost of goods sold using FIFO. aker Company reported the following January purchases and sales data for its only product. The Company uses a perpetual inventory system. Determine the cost assigned to ending inventory and to cost of goods sold using LIFO