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 idenufication, ending inventory consists of 210 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 145 units @ $6.ee - $ 878 Jan. 10 Sales 95 units $15.00 Jan. 20 Purchase 65 units@ $5.00 - Jan. 25 Sales 85 units $15.ee 188 units @ $4.50 Totals 390 units $2,805 180 units 325 Jan. 3e Purchase 818 Required information Required: Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification. (b) weighted average (a FIFO, and ( 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 specific identification. For specific Identification, ending invent are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory. aj Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending trendy Cost of Goods Cost per #of units Cost per of units in Cost of Goods Cost per Ending # of units Available for unit ending Sold unit sold uni Sale Inventory inventory Beginning inventory Purchases Determine the cost assigned to ending inventory and to cost of goods sold using specific identification. For specific identification, ending inventi are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory a) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of Goods Cost per #of units #of units #of units in Cost per Cost of Goods Cost per Available for Ending unit sold unit Sold ending Sale Inventory inventory Beginning inventory Purchases Jan. 20 Jan 30 Total 0 $ 0 $ 0 0 5 Specified Weighted Average >