Required information Use the following information for the Exercises below. (The following information applies to the questions displayed below.] Laker Company reported the following January purchases and sales data for its only product. Units sold at Retail Units Acquired at Cost 180 units @ $10.50 = $1,890 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase 140 units @ $19.50 110 units@ $ 9.50 = 1, 045 130 units @ $19.50 260 units @ $ 9.00 = 550 units Totals 2,340 $5,275 270 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 280 units, w 260 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. Exercise 5-3 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 ante Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. (Round cost per unit to 2 decimal places.) Perpetual FIFO: Goods Purchased Cost of Goods Sold Inventory Balance Date Cost per # of units Cost per # of units sold Cost per unit Cost of Goods Sold unit # of units Inventory Balance unit January 1 180 $ 10.50 = $ 1.890.00 January 10 140 $ 10.50 $ 1,470.00 40 $ 10.50 = $ 420.00 ( January 20 110 $ 9.50 40 @ $ 10.50 = $ 420.00 110 @ $ 9.50 1,045.00 $ 1,465.00 January 25 40 @ $ 10.50 11 $ 420.00 $ 10.50 = a $ 9.50 = 0.00 $ 9.50 = $ 420.00 January 30 Totals