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 240 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Units sold at Retail Units Acquired at Cost 160 units @ $ 8.50 = $ 1,360 120 units @ $ 17.50 Date January 1 January 10 January 20 January 25 January 30 Activities Beginning inventory Sales Purchase Sales Purchase Totals 100 units @ $ 7.50 = 750 120 units $ 17.50 240 units @ $ 7.00 = 1,680 $ 3,790 500 units 240 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 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