Ch 6 Homework O Required information Use the following information for the Exercises below. The following information applies to the questions displayed below) Laker company reported the folowing January purchases and sees data for its only product 103 3 .002.665 MOLLIS Jan. Beginnenventory Jan. 10 Sales Jan. 20 Furchase 16 its $12.00 - 1.600 1. = ei ole 165 122.00 Jan. 1Purchase Totale 37.910 The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 345 units, where 310 are from the January 30 purchase. 5 are from the January 20 purchase, and 30 are from beginning inventory Exercise 6-4 Perpetual: Income effects of inventory methods LO A1 Required: 1. Complete comparative income statements for the month of January for Laker Company for the four inventory methods. Assume expenses are $1900 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 UFO 0.0205 .820 8.8203 6.6205 Cost of goods sold 6.820 5.520 6.820