Use the following information for the Exercises below. [The following information applies to the questions displayed below.J Laker Company reported the following January purchases and sales data for its only product Activities Units sold at Retail 160 units $22.50 180 units $22.50 Date Units Acquired at Cost Jan. 1 Beginning inventory 210 unitse 13.50 $2,835 Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase 150 units $12.50-1,875 320 units 12.003,840 Totals 680 units $8,550 340 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 340 units, where 320 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory