13 Part 2012 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. The Company uses a periodic inventory system. For specific Identification, ending inventory consists of 228 units, where 180 are from the January 30 purchase. 5 are from the January 20 purchase, and 43 are from beginning inventory Date Activities Units Acquired cost Une soldate Jan. 1 Beginning inventory 154 units $6.00$ 924 Jan. 10 Sales 86 units $15.00 Jan. 20 Purchase 74 units@ $5.00 370 Jan. 25 Sales 91 units $15.00 Jan. 38 Purchase 180 units $4.50 810 Totals 408 units 52,184 180 units 5 Dom 090253 1. Compute gross crot for the month of January for Laker Company for me tour inventory methods 2. Which method yields the highest gross profit? 3. Dous gross profit using weighted average for between that using FIFO and UFO? 4.1f costs were thing instead of falling, which method would yield the highest gross profit? Complete this question by entering your answers in the tabs below. Come grous groft for the month of January for Laker Company for the four inventory methods (Round cost perto 2 decines and swers to the rest whoe dollars LAKER COMPANY Weighted FO LIFO 13 Part 22 Required information The following information applies to the questions displayed below) Loker Company reported the following January purchases and sales data for its only product. The Company uses a periodic inventory system. For specific identification ending inventory consists of 228 units, where 180 are from the January 30 purchase. 5 are from the January 20 purchase, and 43 are from beginning inventory Date Activities units acquired at cost Units sold at Retail Jan. 1 Beginning Inventory 154 units@ $6.00 $ 924 Jan. 10 Sales Jan. 20 Purchase 86 units $15.00 74 units @ $5.00 = 370 Jan. 25 Sales 94 units $15.00 Jan. 3 Purchase 189 units@ $4.50 810 Totals 408 units $2,184 180 units 5 som 2.00320 1. Comoute gross proft for the month of January for Loker Company for the four inventory methods 2. Which method yields the highest gross profit? 3. Does gross proft using weighted average fall between that using FIFO and LIFO? 4. If costs were rising instead of falling, which method would yield the highest gross profit? Complete this question by entering your answers in the tabs below Red Mee alte 2. Which method yies e highest gross proli? 3. Does gros profesing weg te verge between that using FIFO and LFO7 4. cons were in adot balling, which method would yield the highest gross profit? 2 which wywiste e grous ? 1 Does you need to be a USG FIFO and UFO ng is of wing, which method would you do nighest gross pro