Use the following information for the Exercises 3-7 below. (Algo) [The following information applies to the...

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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. For specific identification, ending inventory consists of 300 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory. Date Activities January 1 Beginning inventory January 10 January 20 January 25 January 30 Sales Purchase Sales Purchase Totals Units Acquired at Cost 200 units $ 12.50 = 130 units $ 11.50 = 300 units @ $11.00 = 630 units Units sold at Retail $ 2,500 160 units @ $ 21.50 1,495 3,300 $ 7,295 140 units $ 21.50 300 units Exercise 5-3 (Algo) Perpetual: Inventory costing methods LO P1 Assume the perpetual inventory system is used. 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. Specific Weighted Identification Average FIFO LIFO 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. For specific identification, ending inventory consists of 300 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory. Date Activities January 1 Beginning inventory January 10 January 20 January 25 January 30 Sales Purchase Sales Purchase Totals Units Acquired at Cost 200 units $ 12.50 = 130 units $ 11.50 = 300 units @ $11.00 = 630 units Units sold at Retail $ 2,500 160 units @ $ 21.50 1,495 3,300 $ 7,295 140 units $ 21.50 300 units Exercise 5-3 (Algo) Perpetual: Inventory costing methods LO P1 Assume the perpetual inventory system is used. 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. Specific Weighted Identification Average FIFO LIFO