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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 $380$ 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