Graded Homework Ch5 3 Required information Seved Part 3 of 3 138 points [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 perpetual inventory system. For specific identification, ending inventory consists of 180 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory H Date Activities January 1 January 18 January 28 Beginning inventory Sales 140 units January 25 Purchase Sales 68 units Units Acquired at Cost $ 6.00- 055.00- Units sold at Retail 5840 100 units $15 300 80 units 0515 January 38 Purchase Totals 100 units 388 units $4.50 810 $1,950 100 units 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 tabe below. Beg S Compute gruss profit for the month of January for Lakier Company for the four inventory methods. (Round cost per unit to 2 decimal places and final answers to the nearest whole dollars) LAKER COMPANY For Month Ended January 31 Help Save & Exit Submit Check my work