use the following information for the exercises below. (algo) skip to question [the following information...
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Accounting
Use the following information for the Exercises 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 208 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 23 are from beginning inventory. Date Activities Units Acquired at Cost Units sold at Retail January 1 Beginning inventory 144 units @ $ 6.00 = $ 864 January 10 Sales 96 units @ $ 15.00 January 20 Purchase 64 units @ $ 5.00 = 320 January 25 Sales 84 units @ $ 15.00 January 30 Purchase 180 units @ $ 4.50 = 810 Totals 388 units $ 1,994 180 units
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