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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. The Company uses a periodic inventory system. For specific identification, ending inventory consists of 245 units, where 210 are from the January 30 purchase, 5 are from the January 20 purchase, and 30 are from beginning inventory. Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 155 units @ $8.00 = $1,240 Jan. 10 Sales 115 units @ $17.00 Jan. 20 Purchase 90 units @ $7.00 = 630 Jan. 25 Sales 95 units @ $17.00 Jan. 30 Purchase 210 units @ $6.50 = 1,365 Totals 455 units $3,235 210 units Exercise 5-5A Periodic: Inventory costing LO P3 Required: Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c) FIFO, and (d) LIFO. Required: Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (C) FIFO, and (d) LIFO. Complete this questions by entering your answers in the below tabs. 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 inventory consists of 245 units, where 210 are from the January 30 purchase, 5 are from the January 20 purchase, and 30 are from beginning inventory. a) Specific Identification Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Goods Cost per # of units Available for unit # of units sold Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory Sale Beginning inventory Purchases: Jan. 20 Jan. 30 Total