Laker Company reported the following January purchases and sales data for its only product. The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 385 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory. Date Activities January 1 January 10 January 20 Beginning inventory January 25 January 30 Sales Purchase Sales Units Acquired at Cost 235 units @ $ 16.00 = 180 units @ $ 15.00 = Units sold at Retail $ 3,760 185 units @ $ 25.00 2,700 200 units $ 25.00 Purchase Totals 385 units $ 13.00 = 5,005 800 units $ 11,465 385 units Exercise 5-3 (Algo) 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 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 Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. Goods Purchased Date # of units Cost per unit # of units sold January 1 January 10 Perpetual LIFO: Cost of Goods Sold Cost per unit Cost of Goods Sold # of units Inventory Balance Cost per unit Inventory Balance 235 at $16.00 = $ 3,760.00 January 20 Total January 20 January 25 Total January 25 January 30 Totals < FIFO LIFO