Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of 275 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory. Date January 1 Activities Beginning inventory Units Acquired at Cost 175 units @ $ 10.00 = Units sold at Retail $ 1,750 January 10 January 20 January 25 January 30 Sales Purchase Sales 135 units @ $ 19.00 130 units @ $ 9.00 = 1,170 140 units @ $ 19.00 Purchase 275 units $ 7.00 = Totals 580 units 1,925 $ 4,845 275 units 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 FIFO. 4. Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. Complete this question by entering your answers in the tabs below. Specific Identification Weighted Average FIFO LIFO Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. Specific Identification Available for Sale Cost of Goods Sold Ending Inventory Purchase Date Activity # of units Cost Per Unit # of units sold Cost Per Unit Cost of Goods Sold Ending Inventory- Units Cost Per Unit Ending Inventory-Cost January 1 January 20 January 30 Beginning inventory Purchase 175 130 Purchase 275 580 0 0 $