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. The Company uses a periodic inventory system. For specific identification, ending inventory consists of 230 units, where 200 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory. Date Activities Jan. 1 Beginning inventory 150 units @ $7.50 $1,125 Jan. 10 Sales Jan. 28 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost Units sold at Retail 110 units @ $16.50 80 units @ $6.50- 520 90 units @ $16.50 200 units @ $6.00-1,200 430 units $2,845 200 units Required: Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average. (c) FIFO, and (d) LIFO. Complete this questions by entering your answers in the below tabs