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 January 1 Activities Beginning inventory Units Acquired at Cost 185 units @ $ 11.00 = Units sold at Retail $ 2,035 January 10 Sales 145 units $ 20.00 January 20 January 25 January 30 Purchase Sales Purchase Totals 100 units @ $ 10.00 = 1,000 125 units $ 20.00 270 units 555 units $ 9.50 = 2,565 $ 5,600 270 units Exercise 6-3 (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.