! Required Information [The following information applies to the questions displayed below.) Laker Company reported the following January purchases and sales data for its only product Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 225 units@ $15.ee - $ 3,375 Jan. 1e Sales 175 units @ $24.ee 180 units @ $14.00 - 2,520 Jan. 25 Sales 218 units @ $24.ee Jan. 30 Purchase 350 units $13.50 = Totals 755 units $10,620 385 units Date Jan. 20 Purchase 4,725 The Company uses a perpetual Inventory system. For specific identification, ending inventory consists of 370 units, where 350 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory Perpetual FIFO Goods Purchased Inventory Balance Cost per Cost of Goods Sold #of units Cost per Cost of Goods sold unit Sold Date # of units #of units Cost per unit unit Inventory Balance $ 3.375.00 January 1 225 $ 15.00 January 10 January 20 January 25 January 30 Totals Perpetual LIFO: Goods Purchased #ol Cost per units unit Cost of Goods Sold #of units Cost per Cost of Goods sold unit Sold Inventory Balance #of units Cost per Inventory unit Balance s 225 $ 15.00 = 3.375.00 January 1 January 10 January 20 January 25 January 30 Totals