2. record cost of sale for Jan 10

3. record the purchase of inventory for Jan 20

4. record the sale of goods for Jan 25

5. record the cost of sale for Jan. 25

6. record the purchase of inventory for Jan 30

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. The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 380 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory. Date Activities Units Acquired at Cost Units sold at Retail January 1 Beginning inventory 248 units $ 16.50 = $ 3,960 January 10 Sales 190 units @ $ 25.50 January 2e Purchase 178 units $ 15.50 2,635 January 25 Sales 190 units @ $ 25.50 January 30 Purchase 388 units $ 15.68 = 5.700 Totals 798 units $ 12,295 389 units Record journal entries for Laker Company's sales and purchases transactions. Assume for this assignment that the company uses a perpetual Inventory system and FIFO. All sales and purchases are made on account, and no discounts are offered. Answer is not complete. No Date General Journal Credit Debit 4,845 1 January 10 Accounts receivable Sales pl 4,845 2 January 10 3,135 Cost of goods sold Merchandise inventory ol 3,135 3 January 20 2,835 Merchandise inventory Accounts payable Ol 2,835 4 January 25 4,845 Accounts receivable Sales SO 4,845 5 January 25 4,545 X Cost of goods sold Merchandise inventory 4,545 x 8 January 30 Merchandise inventory Sales