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. For specific identification, ending inventory consists of 290 units from the January 30 purchase, 5 units from the January 20 purchase, and 20 units from beginning inventory. Date January 1 Activities Beginning inventory January 101 January 20 January 25 Sales Purchase Sales Units Acquired at Cost 195 units @ $ 12.00- 120 units $ 11.00 = Units sold at Retail $ 2,340 155 units @ $ 21.00 1,320 135 units @ $ 21.00 January 30 Purchase: Totals 290 units @ $10.50 = 605 units 3,045 $ 6,705. 290 units Exercise 5-3 (Algo) Perpetual: Inventory costing methods LO P1 Assume the perpetual inventory system is used. 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.