Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of $270$ units from the January $30$ purchase, $5$ units from the January $20$ purchase, and $10$ units from beginning inventory.Journal entry worksheet

$1$

$2$

$3$

$4$

$5$

$6$

Record the sale of goods.

Note: Enter debits before credits.

Date Activities Units Acquired at Cost Units sold at Retail

January $1$ Beginning inventory $185$ units @ $ $11\mathrm{.}00=$ $ $2,035$

January $10$ Sales $145$ units @ $ $20\mathrm{.}00$

January $20$ Purchase $100$ units @ $ $10\mathrm{.}00=1,000$

January $25$ Sales $125$ units @ $ $20\mathrm{.}00$

January $30$ Purchase $270$ units @ $ $9\mathrm{.}50=2,565$

Totals $555$ units $ $5,600270$ 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.