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 Date Activities Jan. 1 Beginning inventory Units Acquired at Cost 155 units @ $8.00-$1,240 Units sold at Retail Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales 115 units $17.00 Jan. 30 Purchase Totals 90 units @ $7.00- 210 units @ $6.50- 1,365 455 units $3,235 630 95 units $17.00 210 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 245 units, where 210 are from the January 30 purchase, 5 are from the January 20 purchase, and 30 are from beginning inventory