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 270 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Activities Beginning inventory Date January 1 January 10 January 20 January 25 Sales January 30 Purchase Sales Purchase Totals Units Acquired at Cost Units sold at Retail 180 units $10.50- $1,890 140 units $19.50 110 units $9.50- 1,045 130 units $ 19.50 270 units @ $ 9.00- 560 units 2,430 $ 5,365 270 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. Complete this question by entering your answers in the tabs below. Specific Id Weighted: Average FIFO LIFO Complete the table to determine the cost assigned to ending Inventory and cost of goods sold using specific identification. Ending Inventory Cost Specific Identification Available for Sale Cost of Goods Sold Ending Inventory Purchase Date Activity of units Cost Per Unit # of units sold Cost Per Unit COGS Ending Inventory Cost Per Unit Units January 1 Beginning inventory 180 January 20 Purchase 110 January 30 Purchase 2701 560 Specific 0 $ Weighted Average > 0 $