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Answer #1 completely please! :) Required information [The following information applies to the questions displayed below.) Laker Company reported the following January purchases and sales

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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. Units sold at Retail Date Activities Units Acquired at Cost Jan. 1 Beginning inventory 140 units @ $6.88 = $ 840 100 units @ $15 60 units @ $5.00 - 300 80 units @ $15 Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 810 180 units @ $4.50 = 380 units $1,950 180 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 200 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. Required: 1. Complete comparative income statements for the month of January for Laker Company for the four inventory methods. Assume expenses are $1,250 and that the applicable income tax rate is 40% (Round your Intermediate calculations to 2 decimal places.) LAKER COMPANY Income Statements For Month Ended January 31 Specific Weighted Identification Average FIFO LIFO Sales 0 0 0 0 Cost of goods sold Gross profit Expenses Income before taxes 0 0 0 0 Income tax expense 0 $ 0 $ $ 0 $ 0 Net income

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