Ch 05 Ex 5-3 Saved Help Save & Exit Check n 1 28 points Required information Use the following information for the Exercises 3-7 below. (Algo) (The following information applies to the questions displayed below.) eBook 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 250 units from the January 30 purchase, 5 units from the January 20 purchase, and 20 units from beginning inventory. Hint Ask Units sold at Retail Activities Beginning inventory Units Acquired at Cost 165 units @ $ 9.00 = $ 1,485 Print Sales 125 units @ $ 18.00 Date January 1 January 10 January 20 January 25 January 30 110 units @ $ 8.00 = 880 References 125 units @ $ 18.00 Purchase Sales Purchase Totals @ $ 7.50 = 250 units 525 units 1,875 $ 4,240 250 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