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 200 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory. Units Acquired at Cost 150 units @ $ 7.50 = $ 1,125 Units sold at Retail 110 units @ $ 16.50 Date January 1 January 10 January 20 January 25 January 30 Activities Beginning inventory Sales Purchase Sales Purchase Totals 80 units @ $ 6.50 = 520 90 units @ $ 16.50 200 units 430 units @ $ 6.00 = 1,200 $ 2,845 200 units 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. View transaction list Journal entry worksheet Record the sale of goods. Note: Enter debits before credits. Date General Journal Debit Credit January 10 Record entry Clear entry View general iournal Screenshot 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 200 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory. Units Acquired at Cost 150 units @ $ 7.50 = $ 1,125 Units sold at Retail 110 units @ $ 16.50 Date January 1 January 10 January 20 January 25 January 30 Activities Beginning inventory Sales Purchase Sales Purchase Totals 80 units @ $ 6.50 = 520 90 units @ $ 16.50 200 units 430 units @ $ 6.00 = 1,200 $ 2,845 200 units 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. View transaction list Journal entry worksheet Record the cost of sale. Note: Enter debits before credits. Date General Journal Debit Credit January 10 Record entry Clear entry View general iournal Screenshot 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 200 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory. Units Acquired at Cost 150 units @ $ 7.50 = $ 1,125 Units sold at Retail 110 units @ $ 16.50 Date January 1 January 10 January 20 January 25 January 30 Activities Beginning inventory Sales Purchase Sales Purchase Totals 80 units @ $ 6.50 = 520 90 units @ $ 16.50 200 units 430 units @ $ 6.00 = 1,200 $ 2,845 200 units 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. View transaction list Journal entry worksheet Record the purchase of inventory. Note: Enter debits before credits. Date General Journal Debit Credit January 20 Record entry Clear entry View general iournal Screenshot 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 200 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory. Units Acquired at Cost 150 units @ $ 7.50 = $ 1,125 Units sold at Retail 110 units @ $ 16.50 Date January 1 January 10 January 20 January 25 January 30 Activities Beginning inventory Sales Purchase Sales Purchase Totals 80 units @ $ 6.50 = 520 90 units @ $ 16.50 200 units 430 units @ $ 6.00 = 1,200 $ 2,845 200 units 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. View transaction list Journal entry worksheet Record the sale of goods. Note: Enter debits before credits. Date General Journal Debit Credit January 25 Record entry Clear entry View general iournal Screenshot 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 200 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory. Units Acquired at Cost 150 units @ $ 7.50 = $ 1,125 Units sold at Retail 110 units @ $ 16.50 Date January 1 January 10 January 20 January 25 January 30 Activities Beginning inventory Sales Purchase Sales Purchase Totals 80 units @ $ 6.50 = 520 90 units @ $ 16.50 200 units 430 units @ $ 6.00 = 1,200 $ 2,845 200 units 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. View transaction list Journal entry worksheet Record the cost of sale. Note: Enter debits before credits. Date General Journal Debit Credit January 25 Record entry Clear entry View general iournal Screenshot 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 200 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory. Units Acquired at Cost 150 units @ $ 7.50 = $ 1,125 Units sold at Retail 110 units @ $ 16.50 Date January 1 January 10 January 20 January 25 January 30 Activities Beginning inventory Sales Purchase Sales Purchase Totals 80 units @ $ 6.50 = 520 90 units @ $ 16.50 200 units 430 units @ $ 6.00 = 1,200 $ 2,845 200 units 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. View transaction list Journal entry worksheet Record the purchase of inventory. Note: Enter debits before credits. Date General Journal Debit Credit January 30 Record entry Clear entry View general iournal Screenshot