2 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 216 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 31 are from beginning inventory VIE Net Com on 1 Bonning inventory Hits: 588 Jan B 32 units $15.00 2.20 Puteh 6 urto 15:10 - 3 Jan. 25 Si is 15.00 Jan 10 Purba 2018.10 011 TOLAS #2.031380 Pa 20 1. Compute gross profit for the month of January forker Company for the four inventory methods 2. Which method yields the highest gross profil 3. Des gros profiting weighted average for between the PFO and Fo? 4.1 costs were rising nad of which method would yede honest gross prane? Complete this question by entering your answers in the tabs below Come one for the hotary for Contrary to LAME COURANT ro DO 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 216 units, where 180 are from the January 30 purchase. 5 are from the January 20 purchase, and 31 are from beginning inventory. Date Activities Units Acquired at Cost Units old at Retail Jan. 1 Beginning inventory 148 units $6.00 - $ 8 Jan. 10 Sales 92 units $15.00 Jan. 20 Purchase 68 units $5.00 - 340 Jan. 25 Sale BB units $15.00 Jan. 30 Purchase 180 units $4.50 310 Total 396 units $2,038 180 units 1. Compute gross profit for the month of January for Laker Company for the four inventory methods. 2. Which method yields the highest gross profit? 3. Does gross profit using weighted average fall between that using FIFO and LIFO? 4. costs were rising instead of falling, which method would yield the highest gross profit? Complete this question by entering your answers in the she had t2 of 5 1. Compute gross profit for the month of January for Laker Company for the four inventory methods. 2. Which method yields the highest gross profit? 3. Does gross profit using weighted average fall between that using FIFO and LIFO? 4. Y costs were rising instead of falling, which method would yield the highest gross profit? ts Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 to 4 Compute gross profit for the month of January for Laker Company for the four Inventory methods. (Round cost per unit to 2 decimal places and final answers to the nearest whole dollars.) LAKER COMPANY For Month Ended January 31 Specific Weighted Identification Average FIFO LIFO Sales Cost of goods sold Gross profit 0 5 OS os 0 Req 2 to 4 >