Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of $280$ 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 P$1$

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

$1$

$2$

$3$

$4$

$5$

$6$

Record the sale of goods.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$January $10,,,]]$