Use the following information for the Exercises 3-7 below. (Static) [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 perpetual Inventory system. For specific identification, ending inventory consists of 180 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Date January 1 Activities Beginning inventory January 101 January 20 Sales January 25 January 30 Purchase Sales Purchase Totals 140 units 60 units Units Acquired at Cost $6.00 @$5.00- Units sold at Retail $840 100 units @$15 300 80 units @ $15 180 units 380 units @$4.50- 810 $1,950 180 units