Could someone please help me? I am confused.

Saved Built Problems 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 Units Acquired at Cost 195 units $12.00 $2,340 155 units @ $21.00 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 135 units @ $21.00 120 units@ $11.00 = 1,320 290 units@ $10.50 = 3,045 605 units $6,705 290 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 315 units, where 290 are from the January 30 purchase, 5 are from the January 20 purchase, and 20 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 $1,800, and that the applicable income tax rate is 40%. (Round your Intermediate calculations to 2 decimal places. LAKER COMPANY Income Statements Far Month Ended January 31 e-Built Problems Saved Required: 1. Complete comparative income statements for the month of January for Laker Company for the four inventory methods. Assum expenses are $1.800, and that the applicable income tax rate is 40%. (Round your Intermediate calculations to 2 decimal place LAKER COMPANY Income Statements For Month Ended January 31 Specific Weighted Identification Average $ 6,090 $ 6,090 $ 3,365 2,725 6,090 1,800 1,800 925 4.290 FIFO LIFO 6,090 $ 6,090 Sales Cost of goods sold Gross profit Expenses Income before taxes Income tax expense Net income 6,090 1.800 4,290 6,090 1.800 4,290 $ 925 $ 4,290 $ 4,290 $ 4,290 2. Which method yields the highest net income? Required information 2. Which method yields the highest net income? nts O Specific identification O FIFO OLIFO Weighted average eBook Hint Print ferences 3. Does net income using weighted average fall between that using FIFO and LIFO? O Yes 4. If costs were rising instead of falling, which method would yield the highest net income? O FIFO O Specific identification Weighted average OLIFO