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 385 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory. Date Activities January 1 January 10 Beginning inventory Sales January 20 January 25 January 30 Purchase Sales Purchase Total Units Acquired at Cost 235 units $ 16.00- Units sold at Retail $ 3,760 185 units $ 25.00 180 units e $ 15.00- 2,700 200 units $25.00 385 units 800 units $13.00- 5,005 $ 11,465 385 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