Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of 340 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Date January 1 January 10 January 20 Activities January 25 January 30 Beginning inventory Sales Purchase Sales Purchase Totals Units Acquired at Cost 210 units @ $ 13.50 - 150 units @ $ 12.50 - 340 units @ 700 units Units sold at Retail $ 2,835 160 units $ 22.50 1,875 180 units $ 22.50 $ 12.00 4,080 $ 8,790 340 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.