asap Required information Use the following information for the Exercises below. (Algo) [The following...
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Required information Use the following information for the Exercises 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. For specific identification, ending inventory consists of 220 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 35 are from beginning inventory. Exercise 5-6A (Algo) Perpetual: Journalizing transactions LO P3 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. Record the sale of goods. Note: Enter dbits before credits. Record the cost of sale. Note: Enter dbits before credits. Record the purchase of inventory. Note: Enter dbits before credits. Record the sale of goods. Note: Enter dbits before credits. Record the cost of sale. Note: Enter dbits before credits. Record the purchase of inventory. Note: Enter dbits before credits
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