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 Activities Units Acquired at cost Units sold at Retail January 1 Beginning inventory 185 units @ $ 11.00 - $ 2,035 January 10 Sales 145 units $ 20.00 January 20 Purchase 100 units @ $ 10.00 = 1,000 January 25 Sales 125 units $ 20.00 January 30 Purchase 270 unitse $9.50 = 2,565 Totals 555 units $ 5,600 270 units Exercise 5-3 (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. 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. Perpetual FIFO: Goods Purchased Cost of Goods Sold Inventory Balance Date # of units # of units Cost per Cost of Goods unit sold unit Sold # of units unit Inventory Balance January 1 185 at $ 11.00 $ 2,035.00 January 10 Cost per Cost per January 20 Total January 20 January 25 MYCIU Required information Goods Purchased Cost per # of units unit Date Perpetual FIFO: Cost of Goods Sold # of units Cost per cost of Goods sold unit Sold # of units Inventory Balance Cost per Inventory Balance unit 185 at $ 11.00 - $ 2,035.00 January 1 January 10 January 20 Total January 20 January 25 Total January 25 January 30 Totals