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. For specific identification, ending inventory consists of 180 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Date January 1 January 10 January 20 January 25 January 30 View transaction list Activities Journal entry worksheet 1 al-Li Beginning inventory Sales Purchase Sales. Purchase Totals. 2 3 Record the sale of goods. 4 5 Units Acquired at Cost @ $ 6.00 = @ $ 5.00 = @ $ 4.50 = 6 140 units 60 units 180 units 380 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. $ 840 300 810 $ 1,950 Units sold at Retail > 100 units 80 units 180 units @ $ 15 @ $ 15

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Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of 180 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. cord journal entries for Laker Company's sales and purchases transactions. Assume for this assignment that the company uses a rpetual inventory system and FIFO. All sales and purchases are made on account, and no discounts are offered