B of 3 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. For specific identification, ending inventory consists of 232 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 47 are from beginning inventory. Date Activities Units Acquired at Cost Units sold at Retail January 1 Beginning inventory 156 units @ $ 6.00 $ 936 January 10 Sales January 20. Purchase January 25 Sales 84 units @ January 30 Purchase ok Totals 76 units @ 180 units @ 412 units $ 5.00 $ 4.50 = II 380 96 units @ $ 15.00 $ 15.00 810 $ 2,126 180 units ces Assume the periodic inventory system is used. Required: 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. 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. Req 1 Req 2 to 4 Compute gross profit for the month of January for Laker Company for the four inventory methods. Note: Round cost per unit to 2 decimal places and final answers to the nearest whole dollars. LAKER COMPANY For Month Ended January 31 Specific Identification Sales Cost of goods sold Gross profit $ 0 Weighted Average $ 0 $ Reg 1 FIFO LIFO 0 Req 2 to 4 >