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 240 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Activities Units Acquired at Cost January 1 Beginning inventory Units sold at Retail 160 unitse $ 8.50 - $ 1,360 January 10 120 units January 20 100 units January 25 January 30 1,680 $ 3,790 Date $ 17.50 $ 7.50 - 750 Sales Purchase Sales Purchase Totals 120 units e $ 17.50 $ 7.00 - 240 unitse 500 units 240 units . Record the purchase of inventory. Note: Enter debits before credits. General Journal Debit Date January 20 Credit Record entry Clear entry View general journal