Laker Company reported the following January purchases and sales data for its only product. 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.

Date	Activities	Units Acquired at Cost	Units sold at Retail
January 1	Beginning inventory	140	units	@	$ 6.00	=	$ 840
January 10	Sales							100	units	@	$ 15
January 20	Purchase	60	units	@	$ 5.00	=	300
January 25	Sales							80	units	@	$ 15
January 30	Purchase	180	units	@	$ 4.50	=	810
	Totals	380	units				$ 1,950	180	units

Record journal entries for Laker Companys 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 4 Note: Enter debits before credits. Journal entry worksheet 1 2 4 Note: Enter debits before credits. Journal entry worksheet