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 Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 240 units $16.50 - $ 3,960 190 units @ $25.50 170 units $15.50 2,635 190 units $25.50 Jan. 30 Purchase 380 units $15.00 - Totals 790 units 380 units Date Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales 5,700 $12,295 The Company uses a perpetual inventory system for specific identification, ending inventory consists of 410 units, where 380 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory. 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 Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 240 units $16.50 - $ 3,960 190 units @ $25.50 170 units $15.50 2,635 190 units $25.50 Jan. 30 Purchase 380 units $15.00 - Totals 790 units 380 units Date Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales 5,700 $12,295 The Company uses a perpetual inventory system for specific identification, ending inventory consists of 410 units, where 380 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory