Required information Skip to question [The following information applies to the questions displayed below.] Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of 270 units from the January 30 purchase, 5 units from the January 20 purchase, and 10 units from beginning inventory. Date Activities Units Acquired at Cost Units sold at Retail January 1 Beginning inventory 185 units @ $ 11.00 = $ 2,035 January 10 Sales 145 units @ $ 20.00 January 20 Purchase 100 units @ $ 10.00 = 1,000 January 25 Sales 125 units @ $ 20.00 January 30 Purchase 270 units @ $ 9.50 = 2,565 Totals 555 units $ 5,600 270 units Assume