Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of 280 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Date January 1 Activities January 10 January 20 January 25 January 30 Beginning inventory Sales Purchase Sales Purchase Totals Units Acquired at Cost 190 units @ $ 7.00 = Units sold at Retail $ 1,330 150 units @ $ 16.00 110 units @ $ 6.00 = 660 130 units @ $ 16.00 280 units a 580 units $ 5.50 = 1,540 $ 3,530 280 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 Weighted FIFO LIES S < Prev 7 8 9 of 22 Next >