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 222 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 37 are from beginning inventory Date Activities Units Acquired at Cost Units sold at Hetall n. 1 Beginning inventory 151 units@ $6.00 $906 10 Sales 19 units $15.10 Jan. 20 purchase 71 units 55.00 355 Jan. 25 Sales 91 units $15.00 160 units @ $4.50 Totals 402 units $2,871 180 units Jan. 30 Purchase 310 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 5 6 > search RI 3 3 S 4 6 6 7 8 9 o V E R . U o E G H J K