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 perpetual inventory system. For specific identification, ending inventory consists of 270 units from the January 30 purchase, 5 units from the January 20 purchase, and 10 units from beginning inventory. Date January 1 January 10 January 201 Activities Beginning inventory Sales January 25. Purchase Sales January 30 Purchase Totals 100 units $10.00- 270 units 555 units Units Acquired at Cost 185 units 11.00- $ 2,035 1,000 Units sold at Retail 145 units e $ 20.00 125 units e $ 20.00 $9.50- 2,565 $5,600 270 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 Journal entry worksheet 1 2 3 4 5 6 Record the sale of goods. Note: Enter debits before credits. Date January 10 General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet < 1 2 3 4 Record the cost of sale. Note: Enter debits before credits. Date January 10 10 5 6 General Journal Debit Credit Record entry Clear entry View general journal > Journal entry worksheet 2 3 4 5 Record the purchase of inventory. Note: Enter debits before credits. Date January 20 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 Record the cost of sale. Note: Enter debits before credits. Date January 25 10 6 General Journal Debit Credit > Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 Record the cost of sale. Note: Enter debits before credits. Date January 25 10 6 General Journal Debit Credit > Record entry Clear entry View general journal Journal entry worksheet d < 1 2 3 4 5 aces Record the purchase of inventory. Note: Enter debits before credits. Date January 30 6 General Journal Debit Credit Record entry Clear entry View general Journal