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 190 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 Units Acquired at Cost 145 units @ $ 7.00 = Units sold at Retail $ 1,015 January 10 Sales 105 units @ $ 16.00 January 20 Purchase 70 units @ $ 6.00 = 420 January 25 Sales 85 units @ $ 16.00 January 30 Purchase Totals 190 units @ 405 units $ 5.50 = 1,045 $ 2,480 190 units Exercise 5-3 (Algo) Perpetual: Inventory costing methods LO P1 Assume the perpetual inventory system is used. 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. 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 Ending Inventory Cost Per # of units # of units Cost Per Unit COGS Unit sold Ending Inventory- Units Cost Per Unit Ending Inventory-Cost Available for Sale Purchase Date Activity Required information 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 Ending Inventory # of units Cost Per Unit # of units sold Cost Per Unit COGS Ending Inventory- Units Cost Per Unit Ending Inventory-Cost 145 $ 7.00 70 190 405 0 $ 0 0 EA $ 0 Available for Sale Purchase Date Activity January 1 January 20 January 30 Beginning inventory Purchase Purchase