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 210 units from the January 30 purchase, 5 units from the January 20 purchase, and 30 units from beginning inventory. Date January 11 January 10 Activities Beginning inventory January 20 January 25 Sales Purchase Sales January 30 Purchase Totals Units Acquired at Cost 155 units @ $ 8.00- Units sold at Retail $1,240 90 units @ $ 7.00- 630 115 units 95 units @ @ $17.00 $17.00 210 units 455 units $ 6.50- 1,365 $ 3,235 I 210 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.