! Required information Use the following information for the Exercises 3-7 below. (Static) [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 180 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Date January 1 January 10 Activities Beginning inventory January 20 January 25 Sales Purchase Sales 60 units Units Acquired at Cost 140 units @ $ 6.00 = @ $5.00 = Units sold at Retail $ 840 100 units @ $ 15 300 80 units @ $ 15 January 30 Purchase Totals 180 units 380 units @ $ 4.50 = 810 $ 1,950 180 units