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. For specific identification, ending inventory consists of 200 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory. Date Activities Units AC ired at Co Units sold at Retail January 1 Beginning inventory 150 units @ $7.50= $1,125 January 10 Sales 110 units @ $16.50 January 2theta Purchase 80 units $6.50= 52 theta January 25 Sales 90 units @ $16.50 January 30 Purchase 200 units@ $6.00= 1,200 Totals 430 units $2,845 200 units Exercise 5-5