Laker Company reported the following January purchases and sales data for its only product. Laker Company uses a perpetual inventory system. For specific identification, ending inventory consists of 285 units, where 130 are from the January 30 purchase, 80 are from the January 20 purchase, and 75 are from beginning inventory. Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. Laker Company reported the following January purchases and sales data for its only product. Laker Company uses a perpetual inventory system. For specific identification, ending inventory consists of 285 units, where 130 are from the January 30 purchase, 80 are from the January 20 purchase, and 75 are from beginning inventory. Determine the cost assigned to ending inventory and to cost of goods sold using FIFO