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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. For specific identification, ending inventory consists of 340 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. ord journal entries for Laker Company's sales and purchases transactions. Assume for this assignment that the company uses a petual inventory system and FIFO. All sales and purchases are made on account, and no discounts are offered. Record journal entries for Laker Company's sales and purchases transactions. Assume for this assigr perpetual inventory system and FIFO. All sales and purchases are made on account, and no discoun Journal entry worksheet 56 Note: Enter debits before credits