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froctoring Ensbled Aroctored Closed Book Exam 2: 5 i Assume the perpetual inventory systerm is ined. Required: 3. Does gross profit using weighted average fall between that using FIFO and LFO? 4. If costs were rising instead of falling. which method would yleld the highest gross profit? Complete this question by entering your answers in the tabs below. Compute gross profit for the month of lanuary for Laker Company for the four inventory methods. Notel Round cost per unit to 2 decmal places and final answers to the nearest whole dollars. Assume the perpetual inventory 1. Compute gross profit for the month of January for Laker Company for the four inventory methods Required: 2. Which method ylelds 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 tabs below. Which method yields the highest gross profit? Does gross profit using weighted average fall between that using FIFO and LIFO? If costs were rising instead of falling, which method would yield the highest gross profit? froctoring Ensbled Aroctored Closed Book Exam 2: 5 i Assume the perpetual inventory systerm is ined. Required: 3. Does gross profit using weighted average fall between that using FIFO and LFO? 4. If costs were rising instead of falling. which method would yleld the highest gross profit? Complete this question by entering your answers in the tabs below. Compute gross profit for the month of lanuary for Laker Company for the four inventory methods. Notel Round cost per unit to 2 decmal places and final answers to the nearest whole dollars. Assume the perpetual inventory 1. Compute gross profit for the month of January for Laker Company for the four inventory methods Required: 2. Which method ylelds 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 tabs below. Which method yields the highest gross profit? Does gross profit using weighted average fall between that using FIFO and LIFO? If costs were rising instead of falling, which method would yield the highest gross profit