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help pelase! thanks! answer all questions pls 1. Compute gross profit for the month of January for Laker Company for the four inventory methods. 2.
help pelase! thanks! answer all questions pls
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 tabs below. Compute gross profit for the month of January for Laker Company for the four inventory methods. Note: Round cost per unit to 2 decimal places and final answers to the nearest whole dollars. 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 yleld the highest gross profit? Complete this question by entering your answers in the tabs below. 2. Which method yields the highest gross profit? 3. Does gross profit using weighted averape fall between that using FIFO and LIFO? 4. If costs were rising instead of falling, which method would yield the highest gross profit? Required information Use the following information for the Exercises 3-7 below. (Algo) [The following information applies to the questions displayed below] Laker Company reported the following January purchases and sales dota for its only product. For specific identification, ending inventory consists of 200 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory. Exercise 5-5 (Algo) Perpetual: Gross profit effects of inventory methods LO A1 Assume the perpetual inventory system is used. Required: 1. Compute gross profit for the month of January for Laker Company for the four inventory methods. 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 folling, which method would yleld the highest gross profit? Complete this question by entering your answers in the tabs below Step by Step Solution
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