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1. record sale of goods for january 10

2. record the cost of sale for january 10

3. record the purchase inventory for january 20

4. record sale of goods january 25

5. record cost of sale january 25

6. record the purchase of inventory january 30

Use the following information for the Exercises 3-7 below. (Algo) [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 400 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Date Activities Units Acquired at Cost Units sold at Retail January 1 Beginning inventory 230 unitse $ 15.50 = $ 3,565 January 10 Sales 180 units $ 24.50 January 20 190 units $14.50 = 2.755 January 25 220 units e January 30 400 units $ 14.00 - 5,600 820 units $ 11,920 Purchase Sales Purchase Totals $ 24.50 400 units Exercise 5-4 (Algo) Perpetual: Journalizing transactions LO P1 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 flat Journal entry worksheet MacBook

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