Exercise 5-3 Perpetual: 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. Date Activities Units Acquired at Cost Jan. 1 Beginning inventory 260 units $9.20 -$ 2,392 Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Units sold at Retail 145 units $17.20 255 units$17.20 330 units $8.202,706 200 units @ $ 720 = 1.440 790 units Totals $6,538 400 units Required The company uses a perpetual inventory system. For specific identification, ending inventory consists of 390 units, where 200 are from the January 30 purchase, 80 are from the January 20 purchase, and 110 are from beginning inventory