! 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. The Company uses a periodic inventory system. For specific identification, ending inventory consists of 220 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 35 are from beginning inventory. Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost Units sold at Retail 150 units @ $6.00 = $ 900 90 units @ $15.00 70 units @ $5.00 = 350 90 units @ $15.00 180 units @ $4.50 = 810 400 units $2,060 180 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. 1 Record the sale of goods. 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