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Accounting

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Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of 210 units from the January 30 purchase, 5 units from the January 20 purchase, and 30 units from beginning inventory.
Date Activities Units Acquired at Cost Units sold at Retail
January 1 Beginning inventory 155 units @ $ 8.00= $ 1,240
January 10 Sales 115 units @ $ 17.00
January 20 Purchase 90 units @ $ 7.00=630
January 25 Sales 95 units @ $ 17.00
January 30 Purchase 210 units @ $ 6.50=1,365
Totals 455 units $ 3,235210 units

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