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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 data for

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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 275 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory.
\table[[Date,Activities,Units Acquired at Cost,Units sold at Retail],[January 1,Beginning inventory,175 units,@,$10.00,=,1,750,,,],[January 10,Sales,,,,,,135 units,@,$19.00
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