Required information Use the following information for the Exercises 3-7 below. (Algo) [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 214 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 29 are from beginning inventory. Exercise 5-6A (Algo) Perpetual: Journalizing transactions LO P3 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. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet Record the purchase of inventory. Note: Enter debits before credits. Journal entry worksheet IvULE: riller uediss veiure creails. Journal entry worksheet 1 Record the purchase of inventory. Note: Enter debits before credits. Journal entry worksheet INote: tncer aedics Derore creacs