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. Units sold at Retail Units Acquired at Cost 160 units@ $8.50 = $1,360 120 units @ $17.50 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 100 units@ $7.50 = 750 120 units @ $17.50 $7.00 220 units 480 units 1,540 $ 3,650 240 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 240 units, where 220 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. Exercise 5-3 Perpetual: Inventory costing methods LO P1 Fequired: Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. . Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. . Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. . 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. Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. (Round cost per un places.) Specific Identification Available for Sale Cost of Goods Sold Purchase Date Ending Inventory Ending Cost Per Ending Inventory- Unit Inventory- Units Cost Activity Unit Cost Units Units Sold Unit Cost COGS Jan. 1 Beginning inventory 160 $ 8.50 160 $ 8.50 $ 1,360 Jan. 20 Purchase 100 Jan. 30 Purchase 220 480 160 $ 1,360 0 $ 0 Required 1 Required 2 > Weighted Average - Perpetual: Goods Purchased Cost of Goods Sold Inventory Balance Cost per Date # of units Cost per unit # of units sold Cost per Cost of Goods unit Sold # of units Inventory Balance unit January 1 160 @ $ 8.50 = $ 1,360.00 January 10 January 20 Average cost January 25 January 30 Totals