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 perpetual inventory system. For specific identification, ending inventory consists of 290 units from the January 30 purchase. 5 units from the January 20 purchase, and 20 units from beginning inventory. xercise 5.4 (Algo) Perpetual: Journalizing transactions LO P1 ecord journal entries for Laker Company's sales and purchases transactions. Assume for this assignment that the company uses a erpetual inventory system and FIFO. All sales and purchases are made on account, and no discounts are offered. Journal entry worksheet 234 Note: Enter debits before credits. Journal entry worksheet 4 Record the cost of sale. Note: Enter debits before credits. Journal entry worksheet 4 Note: Enter debits before credits. Journal entry worksheet 2 Record the sale of goods. Note: Enter debits before credits. Journal entry worksheet 23 Record the cost of sale. Note: Enter debits before credits. Journal entry worksheet 1 234 Record the purchase of inventory. Note: Enter debits before credits. Required information Problem 5-1A (Algo) Perpetual: Alternative cost flows LO P3 [The following information applies to the questions displayed below] Warnenwoods Company uses a perpetual inventory system. it entered into the following purchases and sales transactions for March. Problem 5-1A (Algo) Part 1 Required: 1. Compute cost of goods available for sale and the number of units available for sale. Required information Problem 5-1A (Algo) Perpetual: Alternative cost flows LO P3 [The following information applies to the questions displayed below.] Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Problem 5-1A (Algo) Part 2 2. Compute the number of units in ending inventory. QS 5-23 (Algo) Applying LCM to inventories LO P2 Ames Trading Company has the following products in its ending inventory. Compute lower of cost or market for inventory applied separately to each product. Required information Problem 5-1A (Algo) Perpetual: Alternative cost flows LO P3 [The following information applies to the questions displayed below.] Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Problem 5-1A (Algo) Part 2 2. Compute the number of units in ending inventory