0 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 Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Units sold at Retail 125 units$18.00 125 units$18.00 250 units Activities Units Acquired at Cost 165 units$9.00$1,485 110 units $8.00 880 230 units @ $7.50= 1,725 Totals 505 units $4,090 The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 255 units, where 230 are from the January 30 purchase, 5 are from the January 20 purchase, and 20 are from beginning inventory. Exercise 5-3 Perpetual: Inventory costing methods LO P1