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 380 units, where 360 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory.

Activities Units Acquired at Cost Date Jan. 1 Beginning inventory 230 units @ $15.50=$3,565 Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Units sold at Retail 180 units $24.50 220 units $24.50 190 units $14.502,755 360 unitse $14.00-5,040 780 units Totals $11,360 400 units