omplete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. Required information [The following information applies to the questions displayed below] A company reports the following beginning inventory and two purchases for the month of January. On January 26. the company sells 300 units. Ending inventory at January 31 totals 130 units equired: ssume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on he FIFO method Required information [The following information applies to the questions displayed below] Laker Company reported the following January purchases and sales data for its only product. For specific Identification, ending inventory consists of 355 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory issume the perpetual inventory system is used. lequired: 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. Use the above information to compute inventory tumover for Year 2, and its days' sales in inventory at December 31, Year2. \begin{tabular}{|l|l|l|l|l|l|l|} \hline Inventory tumover & Rumerator & & \\ \hline Days' sales in inventory & & & & \\ \hline \end{tabular} Use the above information to compute inventory tumover for Year 3, and its days' sales in inventory at December 31 , Year 3. \begin{tabular}{|l|l|l|l|l|l|} \hline Inventory tumover & Rumeratio \\ \hline Days' sales in invertory & & & \\ \hline \end{tabular} Did Palmer improve its (a) inventory turnover from Year 2 to Year 3 and (b) days'sales in inventory from Year 2 to Year 3 ? (a) Did Paimer improve its inventory turnover from Year 2 to Year 3 ? (b) Did Paimer improve its days' sales in inventory from Year 2 to Year 3 ? Required information