Saved ! 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 250 units from the January 30 purchase, 5 units from the January 20 purchase, and 20 units from beginning inventory. Units Acquired at Cost 165 units @ $ 9.00 = Units sold at Retail $ 1,485 Date January 1 January 10 January 20 January 25 January 30 125 units @ $ 18.00 Activities Beginning inventory Sales Purchase Sales Purchase Totals 110 units @ $ 8.00 = 880 125 units @ $ 18.00 $ 7.50 = 250 units @ 525 units 1,875 $ 4,240 250 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. View transaction list Journal entry worksheet 112 3 4 5 G Required Information View transaction list Journal entry worksheet d Record the cost of sale. Note: Enter debits before credits. Date General Journal es Debit Credit January 25 Record entry Clear entry View general journal Draw A 19 H quired information 5 View transaction list Journal entry worksheet 1 2 3 4 5 32 Record the purchase of inventory. Note: Enter debits before credits. General Journal Debit es Credit Date January 30 Record entry Clear entry View general journal CA