please help me understand this. this is a practice homework for an upcoming test. but my professor didnt showed this thpe of work during class.

Required information Use the following information for the Exercises 3-7 below. (Algo) The following information applies to the questions displayed below) Lakes 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 January 1 Beginning wentary January 10 Sales January 20 Purchase January 25 Sales January Purchase Totale $ 1,00 1.045 100 unite 3 10.50 110 units. $9.50 378 units $9.00 Seite $19.50 $19.50 . 2018 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 goock sold using LIFO. Complete this question by entering your answers in the tabs below. Required information 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 ld Weighted PERO LIFO Average Comislete the table to determine the cost assigned to ending inventory and cost of goods sold using specific Identification Specific dentification Available for sale Cost of Goods Sold Ending Inventory Purchase Date Ending Cost Per #of units of units Ending Unit sold Cost Per Unit COGS Inventory Cost Per Unit Inventory Coat Say 1 Beginning inventory 1601050 January 20 Ipurchase January 30 Purchase Activity 110 210 00 Weighted Average Required information 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. Specified Weighted PIPO Average LIFO Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. Pere FED Goods Purchased Cost of Goods Sold Inventory Balance Date of units Cost per of units Cost per cost of Goods unit Cost Inventory Balance sold unit Sold of units unit 100 a $10.50 - 1.000.00 January 10 wwwy 1o y 20 January 25 Total January 25 Required information 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. Specified Weighted PIPO LIFO Average Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. Perpetual LIFO Goede Purchased Cost of Goods Sold Inventory Balance Date of units Cost per of units Cost per cost of Goods unit Cost per sold unit Sold # of units unit Inventory Balance Jerry 1 180 $100 1,100.00 hry 10 January 20 Toen Sanuary 20 Juny Total January 25