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Required information [The following information applies to the questions displayed below.] Laker...

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Accounting

Required information
[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 260 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory.
\table[[Date,Activities,Units A,Acq,ired at C,,Units sol,at Retail],[January 1,Beginning inventory,170 units,a,$9.50=,$1,615,,],[\table[[January 10],[January 20]],\table[[Sales],[Purchase]],,,,,130 units,$18.50
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