! Required information Use the following information for the Exercises 3-7 below. (Algo) [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 periodic inventory system. For specific identification, ending inventory consists of 236 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 51 are from beginning inventory. Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost Units sold at Retail 158 units @ $6.00 = $ 948 82 units @ $15.00 78 units @ $5.00 = 390 98 units @ $15.00 180 units @ $4.50 = 416 units 810 $2,148 180 units