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. The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 280 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Date January 1 January 10 January 201 January 25 January 30 Activities Beginning inventory Sales Purchase Sales Purchase Totals Units Acquired at Cost 190 units @ $ 7.00 = Units sold at Retail. $ 1,330 150 units @ $ 16.00 110 units @ $ 6.00 = 660 130 units @ $ 16.00 280 units 580 units @ $ 5.50 = 1,540 $ 3,530 280 units