laker company reported the following janauary purchases and sales data for its only product

1. complete comparative income statements for the month of janauary for laker company for the four inventory methods. Assume expenses are 1550 and that the applicable income tax rate is 40%

Required information [The following information applies to the questions displayed below] Laker Company reported the folllowing January purchases and sales data for its only product. Units sold at Retail Date Activities Units Acquired at Cost Beginhing Jan. 1 inventory 170 units@ $9.50 $1,615 Jan. 10 Sales Jan. 20 Purchase Jan, 25 Sales Jan. 30 Purchase 130 units $18.50 120 units@ $8.50 1,020 130 units @$18.50 240 units@ $8.00= 1,920 $4,555 260 units Totals 530 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 270 units, where 240 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory Required: Required: 1. Complete comparative income stater expenses are $1,550, and that the applicable income tax rate is 40 % ( Round your Intermediate calculations to 2 decimal places.) nents for the month of January for Laker Company for the four inventory methods. Assume LAKER COMPANY Income Statements For Month Ended January 31 Specific Weighted Average Identification FIFO LIFO Sales Cost of goods sold Gross profit Expenses Income before taxes Income tax expense Net income