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 210 units from the January 30 purchase, 5 units from the January 20 purchase, and 30 units from beginning inventory. Date Activities Units Acquired at Cost Units sold at Retail January 1 Beginning inventory 155 units @ $ 8.00 = $ 1,240 January 10 Sales 115 units @ $ 17.00 January 20 Purchase 90 units @ $ 7.00 = 630 January 25 Sales 95 units @ $ 17.00 January 30 Purchase 210 units @ $ 6.50 = 1,365 Totals 455 units $ 3,235 210 units

• Record the sale of goods.

Date	General Journal	Debit	Credit
January 10

• Record the cost of sale.

Date	General Journal	Debit	Credit
January 10

• Record the purchase of inventory.

Date	General Journal	Debit	Credit
January 20

• Record the sale of goods.

Date	General Journal	Debit	Credit
January 25

• Record the cost of sale.

Date	General Journal	Debit	Credit
January 25

• Record the purchase of inventory.

Date	General Journal	Debit	Credit
January 30