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 400 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Date Activities Units Acquired at Cost Units sold at Retail January 1 Beginning inventory 230 units # $ 15.50 - $ 3,565 January 10 Sales 180 units $ 24.50 January 20 Purchase 190 units @ $ 14.50 - 2,755 January 25 Sales 220 units $ 24.50 January 30 Purchase 400 units $14.00 5.600 Totals $ 11,920 400 units e 820 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 the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification Available for Sale Specific Identification Cost of Goods Sold Purchase Date Ending Inventory Activity # of units Cost Per Unit of units sold Cost Per Unit COGS Ending Inventory Units Cost Per Unit Ending Inventory. Cost January 1 January 20 January 30 Beginning inventory Purchase Purchase ces 230 190 400 820 Weighted Average > Specific Id Weighted Average FIFO LIFO Cost per Determine the cost assigned to ending Inventory and to cost of goods sold using welghted average. (Round cost per unit to 2 decimal places.) Weighted Average Perpetual Goods Purchased Cost of Goods Sold Inventory Balance Date # of units Cost per of units Cost of Goods unit sold unit Sold # of units Cost per unit Inventory Balance January 1 230 at $ 15.50 $ 3,565.00 January 10 January 20 Average cost January 20 January 25 Jarvuary 30 Totals Specific ld FIFO >