Exercise 5-3 Periodic: Inventory costing methods LO P1 The following information applies to the questions displayed below Laker Company reported the following January purchases and sales data for its only product. nits sold at Retail 90 units $25.50 90 units$25.50 380 units Units Acquired at Cost Date Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Activities 240 units @ $16.50. $3.960 170 units $15.502,635 380 units_ $15.00 5,700 Totals 790 units $12,295 The company uses a periodic inventory system. For specific identification, ending inventory consists of 410 units, where 380 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory