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Required information [ The following information applies to the questions displayed below. ] Laker Company reported the following January purchases and sales data for its

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 380 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory.
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.
Journal entry worksheet
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