Ch 5: Homework Saved Help Save & Exit Sul Check my wo 12 Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 190 units $7.00 = $1,330 Jan. 10 Sales 150 units @ $16.00 Jan. 20 Purchase 110 units $6.00 - 660 Jan. 25 Sales 130 units @ $16.00 Jan. 30 Purchase 280 units @ $5.50 - 1,540 Totals 580 units $3,530 280 units Part 1 of 2 37 unts Exercise 5-6A Periodic: Income effects of inventory methods LO A1, P3 eBook Hint Required: 1. Complete comparative income statements for the month of January for Laker Company for the four inventory methods. Assume expenses are $1,750, and that the applicable income tax rate is 40%. (Round your average cost per unit to 2 decimal places.) Ask Print erences LAKER COMPANY Income Statements For Month Ended January 31 Specific Weighted Identification Average FIFO LIFO 0 Sales Cost of goods sold Gross profit Expenses Income before taxes Income tax expense Net Income 0 0 0 0 0 0 0 $ OS 0 $ 0 $ 0