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[The following information applies to the questions displayed below.) Laker Company reported the following January purchases and sales data for its only product. The

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[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 180 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Date January 1 January 101 January 201 January 25 January 30 Sales Purchase Sales Purchase Totals Activities Beginning inventory 140 units Units Acquired at Cost $ 6.00- $ 840 100 units Units sold at Retail 8 $ 15 60 units $5.00- 300 80 units 4 $ 15 180 units 380 units $4.50- 810 $1,950 180 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 3 4 5 6 Record the sale of goods.

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