ayed below. Laker Company reported the following January purchases and sales data for its only product. Date Activities Jan. 1 Beginning inventory Units Acquired at Cost 140 units @ $6.00 = $ Units sold at Retail 840 Jan. 10 Sales 100 units @ $ 15 Jan. 20 Purchase 60 units @ $5.00 = 300 Jan. 25 Sales Jan. 30 Purchase Totals 80 units @ $ 15 180 units @ $4.50 = 380 units 810 $1,950 180 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 200 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory.