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 216 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 31 are from beginning inventory. Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost Units sold at Retail 148 units $6.00 $ 888 92 units $15.00 68 units $5.00 340 88 unit $15.00 180 units $4.50- 396 unita 810 $2,038 180 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, (d) FIFO, and (d) LIFO Complete this question by entering your answers in the tabs below. Specific Id Weighted Average FIFO LIFO