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Laker Company reported the following January purchases and sales data for its only product. The Company uses a periodic inventory system. For specific identification, ending

Laker Company reported the following January purchases and sales data for its only product. The Company uses a periodic inventory system. For specific identification, ending inventory consists of 315 units, where 290 are from the January 30 purchase, 5 are from the January 20 purchase, and 20 are from beginning inventory.
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