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its urgent please solve this question. Required Intormetion [The following information applies to the questions ofspiayed below.] Laker Company reported the following January purchases and
its urgent please solve this question.
Required Intormetion [The following information applies to the questions ofspiayed below.] Laker Company reported the following January purchases and sales data for its only piocuct. The Company uses a perpetual inventory system. For specific identification, ending inventory consasts of 200 unds from the january 30 nuichase. 5 units from the January 20 purchase, and 2.5 units from begtnning inventory. 1. Compute gross prafit for the month of Jantary for Laker Company for the four inventory methoos. 2. Which method ylelds the nighest gross profit? 3. Does gross profit using weighted average fail between that using FiFO and UFO? 4. If costs were ising instead of falling, which method would yevd the highest gross pront? Complete this question by entering your answers in the tabs below. 1. Compute gross profit for the month of January for Laket Company for the fouf inventory methods. 2. Witich method yeldis the highest gross profit? 3. Does gross plofit using weighted average fall between that using FFO and LIFO? 4. if costs were rising mstead of falling which method would yeld the highest gross profit? Complete this question by entering your answers in the tabs below. Compcte gross profit for the month of January for Laker Company for the four inventory methods. (hound cost per unit to ? dedenal places and final answers to the nearest whole dollars.) Complete this questien by entering vour answers in the tabs below, 2. Which method yields the highest gross profit? 3. Does oross profit using weighted average fall between that using FiFO and LiFO? 4. If costs were rising instead of falling, which method would yield the Mighest gross profit Step by Step Solution
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