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Use the following information for the Exercises below. $($Algo$)$

$[$The following information applies to the questions displayed below.$]$

Laker Company reported the following January purchases and sales data for its only product. The Company uses a

periodic inventory system. For specific identification, ending inventory consists of $212$ units, where $180$ are from the

January $30$ purchase, $5$ are from the January $20$ purchase, and $27$ are from beginning inventory.

Exercise $5-4($Algo$)$ Periodic: Gross profit effects of inventory methods LO A$1$

Assume the periodic inventory system is used.

Required:

Compute gross profit for the month of January for Laker Company for the four inventory methods.