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 250 units from the January 30 purchase, 5 units from the January 20 purchase, and 20 units from beginning inventory. Date Activities Units Acquired at cost Units sold at Retail January 1 Beginning inventory 165 units @ $ 9.00 = $ 1,485 January 10 Sales 125 units @ $ 18.00 January 20 Purchase 110 units $ 8.00 880 January 25 Sales 125 units @ $ 18.00 January 30 Purchase 250 units $ 7.50 1,875 Totals 525 units $ 4,240 250 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 ossigned 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 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 Activity Ending # of units Cost Per # of units Cost Per Unit Unit sold COGS Inventory. Ending Cost Per Unit Inventory. Cost January 1 Beginning inventory 165 $ 9.00 January 20 Purchase 110 $ 8.00 January 30 Purchase 250 $ 7.50 $ 0 $ 0 Units 525 0 0 She Weighted Average > 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 weighted average. (Round cost per unit to 2 decimal places.) Weighted Average - Perpetual: Goods Purchased Cost of Goods Sold Inventory Balance Date w of units Cost per # of units Cost per Cost of Goods unit #of units Cost per unit Inventory Balance sold Sold unit January 1 165 at $ 9.00 - 1,485.00 January 10 125 at $ at 110 at $ 8.00 $ 8.00 = 110 at 110 at 380.00 880.00 January 20 Average cost January 20 January 25 $ 125 at 250 at $ 7.50 $ January 30 1.875.00 7.50 250 at 250 at Totals Specificid FIFO > Specific la 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 Cost per # of units Cost per Cost of Goods Cost per sold Inventory Balance unit Sold # of units unit January 1 165 at $ 9.00 - $ 1,485.00 January 10 unit January 20 Total January 20 January 25 Total January 25 nces January 30 Totals Weighted Average LIFO > Specific id Weighted Average FIFO LIFO Determine the cost assigned to ending Inventory and to cost of goods sold using LIFO. Perpetual LIFO: Goods Purchased Cost of Goods Sold # of units Cost per # of units Cost per cost of Goods unit # of units January 1 165 at Date sold unit Sold Inventory Balance Cost per Inventory Balance unit $ 9.00 - $ 1,485.00 January 10 January 20 Total January 20 January 25 Total January 25 January 30 Totals (FIFO