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 310 units from the January 30 purchase, 5 units from the January 20 purchase, and 30 units from beginning inventory. Date January 1 January 10 Activities Beginning inventory Sales January 20 January 25 January 30 Purchase Sales Purchase Totals Units Acquired at Cost 205 units @ $ 13.00 = Units sold at Retail $ 2,665 165 units $ 22.00 140 units @ $ 12.00 = 1,680 145 units @ $ 22.00 310 units @ $ 11.50 = 655 units 3,565 $ 7,910 310 units