Required information Use the following information for the Exercises below. (Algo) [The following information applles 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 234 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 49 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 compary uses a perpetual inventory system and FIFO. Al sales and purchases are made on account, and no discounts are offered. Journal entry worksheet 3456 Record the sale of goods. Note: Enter debits before credits. 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 456 Record the cost of sale. Note: Enter debits before credits. 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