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 periodic inventory system. For specific identification, ending inventory consists of 236 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 51 are from beginning inventory. Units sold at Retail Units Acquired at Cost 158 units @ $6.00 = $ 948 82 units @ $15.00 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 78 units @ $5.00 = 390 98 units @ $15.00 810 180 units @ $4.50 = 416 units $2,148 180 units Exercise 5-3 (Algo) Periodic: Inventory costing methods LO P1 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 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 FIFO. c) Periodic FIFO Cost of Goods Available for Sale Cost of Goods Sold Cost per Cost per # of units Cost of Goods Available for Sale # of units sold Ending Inventory # of units in Cost per ending unit inventory unit Cost of Goods Sold Ending Inventory unit 158 6.00 $ 948 Beginning inventory Purchases: Jan. 20 78 5.00 390 Jan. 30 180 4.50 810 0 180 $ 4.50 810 Total 416 $ 2,148 0 $ 0 180 $ 810