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 periodic inventory system. For specific identification, ending inventory consists of 200 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. Units sold at Date Activities Units Acquired at Cost Retail Beginning Jan. 1 140 units@ $6.00= $ 840 inventory Jan. 10 Sales 100 units@ $15 Jan.20 Purchase 60 units@ $5.00= 300 Jan. 25 Sales 80 units@ $15 Jan. 30 Purchase 180 units@ $4.50= 810 Totals 380 units $1,950 180 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