Laker Company reported the following January purchases and sales data for its only product. For...
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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. Record journal entrles 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. 
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.
Record journal entrles 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.
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You can see the logs in the Dashboard.