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 240 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 55 are from beginning inventory. Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totalo Units Acquired at Cost Units sold at Retail 160 units @ $6.00 - $ 960 80 units $15.00 80 units $5.00 - 400 100 units @ $15.00 180 units $4.50 - 810 420 units $2,170 180 units Exercise 5-5A (Algo) Perpetual: Inventory costing LO P3 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. Weighted Specific id FIFO LIFO Average Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. Specific Identification Available for Sale Cost of Goods Sold Ending Inventory Purchase Date Ending Cost Per #of units # of units Activity Unit Cost Per Unit sold COGS Inventory. Ending Cost Per Unit Units Inventory-Co Jan 1 Beginning inventory 160 Jan 20 Purchase 80 Jon 30 Purchase 180 420 0 5 $ pin Weighted Average > Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal places.) Weighted Average - Perpetual: Goods Purchased Cost of Goods Sold Inventory Balance Date of Cost per of units sold Cost per units unit Cost of Goods Sold Bol units Cost per unit Inventory Balance January 1 1601 $ 5.00 5 900.00 January 10 January 20 Average cost January 25 January 30 Totals LIFO Specific Id Weighted Average FIFO Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO: Goods Purchased # of Cost units per unit Cost of Goods Sold of units Cost Cost of Goods sold Sold Inventory Balance Cost Inventory Balance Date of units per unit per unit January 1 160 @ $ $ 6.00- 960.00 January 10 January 20 January 25 January 30 Totals Required information Specific Id Weighted Average FIFO UFO Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. Perpetual LIFO Goods Purchased Cost of Goods Sold #ol Date Cost #of units Cost Cost of Goods units per unit sold of units Sold January 1 160 per unit Inventory Balance Cost per unit Inventory Balance $ 6.00 $ 960.00 January 10 January 20 January 25 January 30 Totals (FIFO