! No Required information [The following information applies to the questions displayed below.] Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of 180 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. 1 Date January 1 January 10 January 20 January 25 January 30 Activities Date January 10 Beginning inventory Sales Purchase Sales Purchase Totals Units Acquired at Cost @ $ 6.00 = Accounts receivable Sales 140 units 60 units 180 units 380 units @ @ General Journal $ 5.00 = $ 4.50 = Answer is not complete. $ 840 300 810 $ 1,950 Units sold at Retail 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. Debit 100 units 650 80 units 180 units @ $ 15 Credit @ $ 15 650 x

Required information [The following information applies to the questions displayed below] Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of 180 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. lecord journal entries for Laker Company's sales and purchases transactions. Assume for this assignment that the company uses a erpetual inventory system and FIFO. All sales and purchases are made on account, and no discounts are offered. Required information The following information applies to the questions displayed below] Laker Company reported the following January purchases and sales data for its only product. For specific identification. ending inventory consists of 180 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. ecord joumal entries for Laker Company's sales and purchases transactions. Assume for this assignment that the company uses a erpetual inventory system and FIFO. All sales and purchases are made on account, and no discounts are offered