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please create journal entries using: - accounts payable -accounts receivable - cost of goods purchased - cost of goods sold - good available for sale
please create journal entries using:
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. 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 ciscounts are offered - accounts payable
-accounts receivable
- cost of goods purchased
- cost of goods sold
- good available for sale
- merchandise inventory
- sales
- sales returns and allowances
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