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 Activities Beginning inventory January 10 Sales January 20 Purchase January 25 Sales January 30 Purchase Totals 140 units Units Acquired at Cost @ $ 6.00 = Units sold at Retail $ 840 100 units @ $ 15 60 units $ 5.00 = 300 80 units @ $ 15 180 units @ $ 4.50 = 810 380 units $ 1,950 180 units