Use the following information for the Exercises 3-7 below. (Algo) Skip to question [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 300 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory. Date Activities Units Acquired at Cost Units sold at Retail January 1 Beginning inventory 200 units @ $ 12.50 = $ 2,500 January 10 Sales 160 units @ $ 21.50 January 20 Purchase 130 units @ $ 11.50 = 1,495 January 25 Sales 140 units @ $ 21.50 January 30 Purchase 300 units @ $ 11.00 = 3,300 Total