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[The TONOWilly mummations applies to the questions displayed below.j Laker Company reported the following January purchases and sales data for its only product. The Company
[The TONOWilly mummations applies to the questions displayed below.j 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 270 units from the January 30 purchase, 5 units from the January 20 purchase, and 10 units from beginning inventory. Date January 1 January 10 January 20 January 25 January 30 Purchase Activities Beginning inventory Sales Units Acquired at Cost 185 units $ 11.00 = 100 units $ 10.00 = Units sold at Retail $ 2,035 145 units @ $ 20.00 1,000 125 units @ $ 20.00 270 units @ 555 units $ 9.50 = 2,565 $ 5,600 270 units Sales Purchase Totals 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 < 1 2 3 4 5 6 > Record the sale of goods. Note: Enter debits before credits. Date January 10 General Journal Debit Credit
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