S 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 260 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory. Date January 11 January 10 January 201 January 25 January 30 Activities Beginning inventory Sales Purchase Sales Purchase Totals Units Acquired at Cost $9.50 $8.50 170 units @ 120 units @ 260 units e 550 units $ 8.00- Exercise 5-3 (Algo) Perpetual: Inventory costing methods LO P1 $1,615 1,020 2,080 $ 4,715 Units sold at Retail 130 units 0 130 units. e 260 units $ 18.50 $ 18.50 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 entering your answers in the tabs below. Weighted Average Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. Specific Identification Specific Id Purchase Date January 1 January 20 January 30 FIFO Available for Sale Activity LIFO Beginning inventory Purchase Purchase # of units 170 120 260 550 Cost Per Unit Cost of Goods Sold # of units sold 0 Specific t Cost Per Unit COGS $ 0 Ending Inventory- Units Weighted Average > 0 Ending Inventory Cost Per Unit Ending Inventory-Cost $ 0 ces Required information 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. Date Specific Id FIFO 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: Cost of Goods Sold January 1 January 10 Weighted Average January 20 Average cost January 20 January 25 January 30 Totals Goods Purchased LIFO # of units Cost per # of units unit sold Cost per unit Cost of Goods Sold Inventory Balance 9.50 = $ 1,615.00 Specific Idi Date January 1 January 10 Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO: Cost of Goods Sold Cost per unit January 20 Total January 20 January 25 Total January 25 January 30 Weighted Average Totals FIFO Goods Purchased # of units LIFO Cost per unit # of units sold Cost of Goods Sold 1,615.00 Specific Id Date January 1 January 10 Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. Perpetual LIFO: Cost of Goods Sold January 20 Total January 20 January 25 Weighted Average Total January 25 January 30 Totals FIFO Goods Purchased # of units LIFO Cost per unit # of units sold Cost per Cost of Goods Sold unit