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 perpetual inventory system. For specific identification, ending inventory consists of 270 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Date Activities January 1 Beginning inventory January 10 Sales January 20 January 25 January 30 Purchase Sales Purchase Totals 110 units @ Units Acquired at Cost 180 units @ $ 10.50 = $ 9.50 = Units sold at Retail $ 1,890 140 units @ $ 19.50 1,045 130 units @ $ 19.50 270 units @ $ 9.00 = 560 units 2,430 $ 5,365 270 units