$[$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 $222$ units, where $180$ are from the January $30$ purchase, $5$ are from the January $20$ purchase,

and $37$ are from beginning inventory.

Exercise $5-6$A $($Algo$)$ Perpetual: Journalizing transactions LO P$3$

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

Record the cost of sale.

Note: Enter debits before credits.