Laker Company reported the following January purchases and sales data for its only product. For specific identification,
ending inventory consists of units from the January purchase, units from the January purchase, and units
from beginning inventory.
Exercise Algo Perpetual: Journalizing transactions LO P
Record journal entries for Laker Company's sales and purchases transactions. Assume for this assignment that the company use
perpetual inventory system and FIFO. All sales and purchases are made on account, and no discounts are offered.
Journal entry worksheet
Record the sale of goods.
Note: Enter debits before credits.
Note there are parts
Record the sale of goods.
Record the cost of sale.
Record the purchase of inventory.
Record the sale of goods.
Record the cost of sale.
Record the purchase of inventory.
