Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of 385 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 235 units @ $ 16.00 = $ 3, 760 January 10 Sales 185 units @ $ 25.00 January 20 Purchase 180 units @ $ 15. 00 = 2, 700 January 25 Sales 200 units a $ 25.00 January 30 Purchase 385 units @ $ 13.00 = 5, 005 Totals 800 units $ 11, 465 385 units Exercise 5-4 (Algo) Perpetual: Journalizing transactions LO P1 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