Record Journal Entry for cost of goods sold.

I don't understand how to records the cost of good sold.

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 270 units from the January 30 purchase, 5 units from the January 20 purchase, and 10 units from beginning inventory. cord journal entries for Laker Company's sales and purchases transactions. Assume for this assignment that the company uses petual inventory system and FIFO. All sales and purchases are made on account, and no discounts are offered