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( 1 ) Required information [ The following information applies to the questions displayed below. ] Laker Company reported the following January purchases and sales

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Required information
[The following information applies to the questions displayed below.]
Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of 300 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory.
\table[[Date,Activities,Units A,cquired at C,,Units sold,at Retail],[\table[[January 1],[January 10]],\table[[Beginning inventory],[Sales]],200 units,(c) $12.50=,$2,500,,],[January 20,Purchase,130 units,c) $11.50=,1,495,160 units,$21.50
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