34 Required information 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." Activities Beginning inventory Sales Purchase Date January 1 January 10 January 20 January 25 January 38 Sales Purchase Totals 140 units Units Acquired at Cost $ 6.00- Units sold at Retail $ 840 100 units @$ 15 60 units 180 units 380 units $5.00- 300 80 units @ $15 @$4.50- 810 $1,950 180 units Exercise 6-4 (Static) Perpetual: Journalizing transactions LO P1