system. 3. Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. Laker Company reported the following January purchases and sales data for its only product. The Company uses a perpetual inventory system. Required: 2. Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. Laker Company reported the following January purchases and sales data for its only product. The Company uses a perpetual inventory system. 4. Determine the cost assigned to ending inventory and to cost of goods sold using LFO. 2 Laker Company reported the following January purchases and sales data for its only product. The Company uses a perpetual inventory system. Required: 1) Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. (Also click on the Weighted Average, FIFO, and LFO Tabs below.)