accounting

Required information Use the following information for the Exercises 3-7 below. (Algo) [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 340 units from the January 30 . purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Exercise 5-4 (Algo) Perpetual: Journalizing transactions LO P1 Record joumal 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. Note: Enter qeoits derore creaits. (1) Required information Record the cost of sale. Note: Enter debits before credits. \begin{tabular}{|c|c|} \hline Date & General Journal \\ \hline January 10 \\ \hline Record entry & Clear entry \\ \hline \end{tabular} View general journal Record the purchase of inventory. Notes Enter debits before credits: Record the sale of goods. Note: Enter deblts before credits. (1) Required information Record the cost of sale. Note: Enter debits before credite. View general journal Required information \begin{tabular}{lllll|l|l|l} 1 & 2 & 3 & 4 & 5 & 6 \end{tabular} Record the purchase of inventory. Note: Enter debits before credits. \begin{tabular}{|c|c|c|} \hline Date & General Journal \\ \hline January 30 & \\ \hline Record entry & Clear entry \\ \hline \end{tabular}