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! Required Information Use the following Information for the Exercises 3-7 below. (Algo) [The following information applies to the questions displayed below.] 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 250 units from the January 30 purchase, 5 units from the January 20 purchase, and 20 units from beginning Inventory. Date Activities Units Acquired at cost Units sold at Retail January 1 Beginning inventory 165 units @ $ 9.ee = $ 1,485 January 10 Sales 125 units @ @ $ 18.00 January 20 Purchase 110 units @ $ 8.ee = 880 January 25 Sales 125 units @ $ 18.ee January 30 Purchase 250 units@ $ 7.50 = 1,875 Totals 525 units $ 4,240 250 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 Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. Specific Identification Cost of Goods Sold Available for Sale Ending Inventory Purchase Date Activity # of units Cost Per Unit # of units sold COGS Cost Per Unit Ending Inventory- Units Ending Cost Per Unit Inventory- Cost 165 January 1 January 20 January 30 Beginning inventory Purchase Purchase 110 250 525 ( Specific lo Weighted Average >