! 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 300 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory. Date January 1 Activities January 10 January 20 January 25 January 30 Beginning inventory Sales Purchase Sales 130 units @ Units Acquired at Cost 200 units @ $ 12.50 = $ 11.50 = Units sold at Retail $ 2,500 160 units @ $ 21.50 1,495 140 units @ $ 21.50 Purchase Totals 300 units @ 630 units $ 11.00 = 3,300 $ 7,295 300 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. View transaction list 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. journal entry has been entered Note : Record entry Credit Clear entry View general journal >