Ch. 5 Practice Homework with Many Narrated Hints i 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 180 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. References 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. Journal entry worksheet 34 Note: Enter debits betore credits. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet (1) 2 Note: Enter debits before credits. Journal entry worksheet Journal entry worksheet 1234 Record the purchase of inventory. Note: Enter debits before credits