! 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 270 units from the January 30 purchase, 5 units from the January 20 purchase, and 10 units from beginning inventory. Date Activities January 1 January 10 January 20 January 25 January 30 Beginning inventory Sales Purchase Sales Units Acquired at Cost 185 units $ 11.00 = 100 units @ $ 10.00 = Units sold at Retail $ 2,035 145 units $ 20.00 1,000 125 units @ $ 20.00 Purchase Totals 270 units 555 units $ 9.50 = 2,565 $ 5,600 270 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.