2 16 Do 01 01 P References 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 periodic inventory system. For specific identification, ending inventory consists of 234 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 49 are from beginning inventory Date Activities Jan. Beginning Lovestory Jan. 10 Sale Jan. 20 Purchase Jan. 25 Sale Jan. 30 Purchase Usita Acquired at Cost Units sold at Retail 157 units 56.00-8942 77 units $5.00- 385 180 units 14.50- 810 414 units 83 unit$15.00 97 unit $15.00 12,137 180 unite Exercise 5-3 (Algo) Periodic: Inventory costing methods LO P1 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 question by entering your answers in the tabs below. Specific i Weighted Average FIFO LIFO