Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below) Laker Company reported the following January purchases and sales data for its only product. Do Units Acquired at Cost 140 units o $6.00 $ 840 Units sold at Retail 100 units @ $ 15 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 60 units $5.00 300 80 units @ $ 15 $4.50 = 180 units 380 units 810 $1,950 180 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 200 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory Exercise 5-3 Perpetual: Inventory costing methods LO P1 Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below) Laker Company reported the following January purchases and sales data for its only product. Do Units Acquired at Cost 140 units o $6.00 $ 840 Units sold at Retail 100 units @ $ 15 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 60 units $5.00 300 80 units @ $ 15 $4.50 = 180 units 380 units 810 $1,950 180 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 200 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory Exercise 5-3 Perpetual: Inventory costing methods LO P1