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Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of $400$ units from the January $30$ purchase, $5$ units from the January $20$ purchase, and $15$ units from beginning inventory.

Date Activities Units Acquired at Cost Units sold at Retail

January $1$ Beginning inventory $230$ units @ $ $15\mathrm{.}50=$ $ $3,565$

January $10$ Sales $180$ units @ $ $24\mathrm{.}50$

January $20$ Purchase $190$ units @ $ $14\mathrm{.}50=2,755$

January $25$ Sales $220$ units @ $ $24\mathrm{.}50$

January $30$ Purchase $400$ units @ $ $14\mathrm{.}00=5,600$

Totals $820$ units $ $11,920400$ 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.