Required information from beginning inventory. Date ActivitiesJanuary 1 Beginning inventoryJanuary 10 SalesJanuary 20 PurchaseJanuary 25 SalesJanuary 30 Purchase Totals [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 300 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units Units Acquired at Cost Units sold at Retail 200 units @ $ 12.50 = $ 2,500 16@ units @ $ 21.50130 units @ $ 11.50 = 1,495 14@ units @ $ 21.50300 units @ ¢ 11.00 = 3,300630 units $ 7,295 300 units Record journal entries for Laker Company's sales and purchases transactions. Assume for this assignment that the company uses aperpetual inventory system and FIFO. All sales and purchases are made on account, and no discounts are offered. 1 Record the sale of goods. 2 Record the cost of sale. 3 Record the purchase of inventory.4 Record the sale of goods. 5 Record the cost of sale. 6 Record the purchase of inventory. Note : @ = journal entry has been entered SN N NN NN,v View general journal